HUD Audits for Public Housing, Section 8 Housing, and Insured Multi-Family Housing Programs

Generally, all participants of Section 8 housing, other related HUD and HFA programs in the insured multifamily housing program must prepare annual financial reports in accordance with U.S. Department of Housing and Urban Development HUD guidelines. The financial reports must follow generally accepted accounting principles (GAAP). The reports must also be submitted to HUD electronically to REAC for processing within 90 days of their year-end for further review and potential inquiry from the Multi-Family assessment center and on some occasions DEC (Division Enforcement Center).

Every year, the 21,000 or so insured/assisted multifamily properties submit audited financial statements to HUD. HUD uses these submissions to assess the financial strength and regulatory compliance of each HUD property. Relatively few CPAs are qualified and can audit HUD programs. HUD audits are complex, specialized and require certain specific disclosures.
Our firm’s sole focus and area of practice on HUD and Multi-Family Housing enables us to excel at performing these Audit services effectively and affordably.

Our Lead Hud Auditors have a minimum of 33 years in the industry; our staff Auditors have a minimum of ten years in the field. Our firm is peer reviewed every 3 years and we remain current on new standards, regulations and trends through Continuing Education and peer to peer relations. We impart knowledge to avoid pitfalls that may affect you and your HUD development. Let us demonstrate our skills in providing exceptional HUD audit services. We will help you comply with HUD requirements so you can avoid penalties, sanctions and even termination from HUD programs.