For owners, managers and audits of HUD-assisted properties...
the U.S. Department of Housing and Urban Development (HUD) issued its long-awaited revisions to Chapter 3 – HUD Multifamily Housing Programs and Chapter 4 – HUD Multifamily Hospital Program of the Consolidated Audit Guide for Audits of HUD Programs (the Guide). GAQC Alert #85 describes the significant changes in each chapter. The new Chapter 3 is effective and can be used upon issuance. The requirements in Chapter 3 shall apply to audits of profit-motivated sponsors/entities with fiscal years ending on or after December 31, 2008. Chapter 4 is effective upon issuance. You can access the related HUD transmittal letters that further describe the issuance of Chapters 3 and 4 by clicking here.
Wednesday, September 24, 2008
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