|
|
What's Hot!
|
|
|
Substandard
Government Audits: Are They Worth the Cost? |
|
Ukiah, CA CPA
agrees to not perform HUD Audits for 3 years.
|
|
Two Birmingham, AL CPAs enter into settlement agreements
with, and fined by the Alabama State Board of Accountancy.
|
|
California CPA agrees to 3-year voluntary exclusion from
providing services to the Executive Branch of the US Government.
|
|
Enforcement Actions
|
|
|
|
The
REAC Quality Assurance Subsystem (QASS) staff performs quality assurance
reviews of Independent Public Accountants (IPAs) who perform audits
and attestations of HUD-assisted multifamily projects and public
housing agencies(PHAs). QASS auditors perform reviews to determine
that data submitted to FASS are reliable and serve to validate the
FASS financial ratios.
|
Highlights
|
|
|
Important! The Office of Management and Budget
has issued a revision to Circular A-133, Audits of State
and Local Governments for Non-Profit Organizations increasing
the audit threshold from $300,000 to $500,000 of Federal
Awards for Fiscal Year ending after December 31, 2003.(03/22/04)
|
|
What does $500,000 really mean?
Find out what types of federal assistance are included under
the $500,000 Single Audit threshold and whether you should
be submitting an audit. See
Details. (03/22/04)
|
|
Enforcement
actions against IPAs
The Department is aggressively pursuing action against auditors
who have egregiously violated professional standards and
HUD requirements. To date – based on referrals made to oversight
bodies as a result of QARs performed by QASS – the following
enforcement actions have been taken or are proposed against
IPAs: More...
|
|
Important! Obtaining instructions for getting
a UII has just gotten easier!!Retrieve the short version
of the UII
Registration Instructions.
|
|
Important! Unique IPA Identifier (UII) is required
when submitting Audited Financial Information to REAC. For
more information about the UII requirement, check out: Unique
IPA Identifier(UII) Instructions for registering
online can be found to the right under Documents and Guidance.
|
|
On-line UII Registration for IPA Offices and State
Auditor Offices is now available.Before obtaining a
UII, IPA offices and State Auditor offices must obtain a
HUD Secure Systems User ID and Password. To obtain a Secure
System User ID and Password, refer to Online Systems' Secure
System Registration Instructions. Contact your HUD-assisted
client today for assistance.
|
|
|