This archived Governmental Audit Quality Center (GAQC) member-only conference call titled, The New Multifamily Housing Chapter of the HUD Consolidated Audit Guide, is intended for our members who perform U.S. Department of Housing and Urban Development (HUD) multifamily housing audits, and is based on the long-awaited revisions to Chapter 3, HUD Multifamily Housing Programs (Chapter 3), of the HUD Consolidated Audit Guide (the HUD Guide). As we informed you in GAQC Alert #85 , HUD issued the new Chapter 3 (which was formerly Chapter 4 of the Guide) in July 2008. Chapter 3 is effective for audits of profit-motivated sponsors/entities with fiscal years ending on or after December 31, 2008.
The presenter for this call, George Datto of HUD, highlights the major changes in the chapter and addresses member questions submitted in advance and during the live event. Some of the changes covered in the call include "group project-based sampling" which is now permitted for certain areas of compliance if certain conditions exist (as described in section 3-1 of the Guide); guidance on sample selection that generally requires attribute sampling; cash receipts and disbursements testing; updated reporting requirements; and audit finding reporting guidance.
The presenter also explains at a very high-level the other new chapter that was issued at the same time as Chapter 3. The new Chapter 4, HUD Multifamily Hospital Program
(Chapter 4) ,
is essentially the previous Chapter 4 from the 2001 version of the Guide. However, the title is revised to apply only to the Multifamily Hospital Program. Because Chapter 4 previously applied to more than just the Multifamily Hospital Program, portions will no longer be applicable. Further, HUD has stated that auditors are expected to use professional judgment in applying Chapter 4 to audits of the Multifamily Hospital Program. Chapter 4 was effective upon issuance.
As previously noted in several GAQC Alerts, HUD is going through the process of updating the Guide (last revised on an overall basis in 2001) on a chapter-by-chapter basis. Remaining chapters to be updated by HUD include Chapters 1 and 2. HUD is currently working on both chapters. We will keep you apprised of any developments relating to these chapters as we become aware of them. In the meantime, watch the GAQC HUD Information page for further HUD updates.
About the Presenter
George Datto works for the HUD Office of Inspector General and is the HUD National Single Audit Coordinator. He has been with HUD for over forty years and has been closely involved in the preparation of the updates and revisions to the HUD Guide, including the most recent revisions to Chapters 3 and 4.
George started his government-auditing career with the Public Housing Administration and joined HUD when it was established in 1968. He has been involved with single audits since the Single Audit Act was passed in 1984. George served an Assistant Regional Inspector General for Audit, directing and supervising the HUD-OIG Philadelphia Regional Office's internal and external audits activities among his many assignments. George graduated from the University of Scranton, in Pennsylvania with an accounting degree and is a Certified Internal Auditor. He is current chairperson of the Single Audit Committee of the Mid-Atlantic Intergovernmental Audit Forum.
Archived Call Listening Instructions
You should print out and have available the following attached presentation materials for reference during the archived call:
The New Multifamily Housing Chapter of the HUD Consolidated Audit Guide Call Slides (PowerPoint or PDF)
You can download the archived call for playing on your computer while offline or uploading to an MP3 player. To do so, right click on the following link and select "Save Target As" or "Save Link As." The download may take a while depending on your connection speed, so please be patient.
Download the archived call to your computer or MP3 player.
Thank you for your interest in this GAQC conference call.