HUD Consolidated Audit Guide
The purpose of this Guide is to assist independent auditors in performing program-specific audits of participants in selected HUD Housing and Ginnie Mae programs. The auditees that generally are audited under this Guide are for-profit entities (note that not-for-profit and governmental organizations that participate in HUD housing programs would fall under the requirements of the Single Audit Act and Circular A-133 and not this Guide).
Audits under the Guide must also be performed in accordance with the standards for financial audits in Government Auditing Standards
, issued by the Comptroller General of the United States. The objectives of a HUD program-specific audit under the Guide are to assist the program managers in HUD in determining whether the auditee has: (a) provided financial data and reports that can be relied upon; (b) internal control in place to provide reasonable assurance that it is managing HUD programs in compliance with applicable laws and regulations; and (c) complied with the terms and conditions of federal awards and guarantees, and thus expended federal funds properly and with supporting documentation.
The HUD OIG continues to work on a revision of the Consolidated Audit Guide.
The revised guide is being issued on a chapter-by-chapter basis. We will continue to keep members informed of HUD's progress. Below is a list of the status of each chapter.