Single Audit Guidance

Information for Independent Public Accountants and Clients About Audits of HUD Programs

• HUD Consolidated Audit Guide

  The audit guide is intended to assist independent auditors in performing audits of profit-motivated program participants in selected HUD Housing and Ginnie Mae programs that are subject to HUD’s uniform financial reporting standards (See 24 CFR (Code of Federal Regulations) Part 5, Subpart H, and 24 CFR Part 202.5(g)).

• Office of Management and Budget (OMB)

  The OMB home page provides Internet users access to a broad range of OMB documents, including the President’s budget and related material, OMB circulars and bulletins, status reports on OMB’s regulatory and paperwork management programs, Federal Register submissions, and other OMB significant reports.

  OMB Circulars and Bulletins

• U S. Government Accountability Office (GAO)

  The Generally Accepted Government Auditing Standards, also known as the Yellow Book, provides a framework for conducting high-quality audits with competence, integrity, objectivity, and independence. The Yellow Book is used by auditors of government entities, entities that receive government awards, and other audit organizations performing Yellow Book audits. It outlines the requirements for audit reports, professional qualifications for auditors, and audit organization quality control. Auditors of federal, state, and local government programs use these standards to perform their audits and produce their reports.

  The 2018 revision of the Yellow Book is effective for financial audits, attestation engagements, and reviews of financial statements for periods ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019. Early implementation is not permitted.

• Federal Audit Clearinghouse

  The Federal Audit Clearing House operates on behalf of the OMB. Its primary purposes are to:

  • Distribute single audit reporting packages to Federal agencies.
  • Support OMB oversight and assessment of Federal award audit requirements.
  • Maintain a public database of completed audits.
  • Help auditors and auditees minimize the reporting burden of complying with Circular A-133 audit requirements.

• AICPA Government Audit Quality Center (GAQC)

  The AICPA Government Audit Quality Center (GAQC) promotes the importance of quality governmental audits and provides critical and time sensitive information about governmental audit developments, single audit practice aids, and other resources to CPA firms and state audit organizations that perform governmental audits.

• CIGIE Guide for Quality Control Reviews

  This guide is effective for QCRs of single audits conducted in accordance with the Uniform Guidance for audits of fiscal years beginning on or after December 26, 2014. It is intended that this guide serve as the minimum documentation to support the QCR. This guide revision addresses the changes to Single Audits under the Uniform Guidance.

  Agencies may modify or supplement this guide to meet their needs.

  • Determine whether the audit was conducted in accordance with applicable standards, which include Generally Accepted Government Auditing Standards (GAGAS) and Generally Accepted Auditing Standards (GAAS), and meets the requirements of Office of Management and Budget (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
  • Identify any follow-up work needed to support the conclusions and opinions contained in the reporting package.
  • Identify issues that may require appropriate management official attention. The QCRs performed with this guide may provide evidence of the reliability of the Uniform Guidance single audits for auditors of Federal agency financial statements, such as those required by the Chief Financial Officers Act, and others.