| ID | Status | Date | Public/Private | Industry | AHACPA Contact |
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| #9102 | Closed | public | Rural Development | Les Sparks |
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Hello, Since RD issued the final rule related to financial reporting requirements in 2017 moving to a risk based modified version of the HUD audit guide, has there been any further guidance issued? Has RD issued its own audit guide or is there any news of them issuing one in the future? Has there been any clarification of what compliance requirements in the HUD audit guide RD believes are more applicable than others related to the 515 program? Thanks for your help we are beginning to plan our 2018 audits and develop compliance testing. I appreciate your time. |
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Tyler, I have been a slug in getting this answered. The short answer is that there is a proposed Guide out there. I have just completed some review of this document. I have attached it. Just to clarify, NOTHING changes this year. It will all be effective next year. It will be a dollar-based determination of both audits and the major program at $500K. The biggest change will not be the move from AUP to compliance opinions, it will likely be projects with < than 24 units not getting auditsif they have over $500K in awards.
Inside the chapter 4, you will find the proposed audit procedures.
Les
Les Sparks 800-532-0809
From: AHACPA <support@ahacpa.org> |
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I am out of the office at a conference through Friday the 21st. I will respond as soon as I can. If you have an urgent matter please call James
Thank you
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Hello,
This appears to be transposed with another person because I am not Bob.
Thanks you for your help in resolving my question
From: AHACPA <support@ahacpa.org> |