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As an owner, developer or management agent of an affordable housing project funded by federal monies, the U.S. Department of Housing and Urban Development may require you to complete an audit. Cropper Accountancy Corporation is experienced in working with programs like these, and we understand the complex compliance and reporting requirements of the granting agency, especially in the current era of increased oversight.

HUD audits must meet the Uniform Guidance Requirements and compliance requirements of Single Audits. Single Audit clients receive three key reports:1) Independent Auditors’ Report, 2) Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards, and 3) Report on Compliance for Each Major Federal Program and Report on Internal Control Over Compliance In Accordance with the Uniform Guidance. In addition to these reports, we will also help you audit your Schedule of Expenditures and Federal Awards (SEFA). 

What can I expect from a HUD audit?

  • Attestation that the financial reports submitted to HUD through their Real Estate Assessment Center (REAC) agree with the financial reports that contain our audit opinion. (We will also help you submit to REAC)
  • Internal control and compliance testing
  • Evaluation of partnership agreement structuring
  • Access to our Government Consulting and Valuation Services

HUD requirements and filing can be a complex process, which is why the best step you can take is to speak with experts who can walk you through the entire process of a HUD audit.

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