| ID | Status | Date | Public/Private | Industry | AHACPA Contact |
|---|---|---|---|---|---|
| #11147 | Closed | public | Multifamily | _General Support |
|
At year end one of our clients had a situation where the tenant deposit liability account exceeded the tenant deposit cash account. Per HUD requirements the tenant deposit cash account should be equal to or exceed the tenant deposit liability account. The difference is only $1,244, which we consider to be immaterial (our program materiality is $150,000 which is the same as our tolerable misstatement). Do we need to consider this a finding and include it in the Schedule of Findings and Questioned Costs? |
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