· HUD AUDITS · AFFORDABLE HOUSING · COMPLIANCE · REPORTING
Specialized Audit Support for HUD-Assisted Housing Programs
HUD-assisted housing programs require annual audits that follow HUD's specific guidelines, not just generally accepted auditing standards. Archer Lewis handles HUD audits for property owners and managers who need accurate, on-time work from specialists who know the requirements.
Jarrard, Nowell & Russell, LLC is a separate entity from Archer Lewis, LLC. Jarrard, Nowell & Russell, LLC provide attest and assurance services. Jarrard, Nowell & Russell, LLC create independent, objective assessments to give stakeholders confidence in financial reporting. Services include non profit audits, private company audits, employee benefit plan audits, reviews, compilations, agreed upon procedures, and prepared financials. These services are performed under professional standards established by the AICPA and require a high level of independence.
Our Approach
HUD compliance requires specific, ongoing expertise.
HUD-assisted housing programs (Section 8, Section 236, Section 202, PBRA, and others) require annual financial statement audits prepared in accordance with HUD's Audit Guide. The requirements are specific, the deadlines are firm, and the consequences of noncompliance range from findings and repayment requirements to program termination. Archer Lewis works in this space regularly, which means we understand what HUD reviewers look for, what findings to avoid, and how to prepare financial statements that meet the standard the first time.
What's Included
HUD audit services for assisted housing programs
From annual audit preparation through finding resolution, our team handles the full scope of HUD compliance for property owners and managers.
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HUD Financial Statement Audit
Annual audits prepared in accordance with HUD's Audit Guide: accurate, complete, and submitted on time.
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Surplus Cash Calculation
Accurate surplus cash calculations that determine distributions available to owners, one of the most scrutinized elements of HUD financial reporting.
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Residual Receipts Reporting
Proper accounting and reporting of residual receipts for applicable HUD programs.
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Replacement Reserve Analysis
Reserve fund balances reviewed and reported in accordance with HUD requirements.
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Finding Resolution Support
If prior audits produced findings, we help you understand the issues, implement corrective action, and respond to HUD reviewers.
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Management Fee Review
Management fee calculations reviewed for compliance with HUD-approved management agreements.
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Regulatory Agreement Compliance
Review of operations against HUD regulatory agreement requirements to identify compliance issues before the auditor does.
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Electronic Submission
HUD financial statements submitted electronically through the required HUD systems, correctly formatted and on time.
HUD audit findings can affect program eligibility, not just paperwork.
Audit findings in HUD-assisted housing programs carry real consequences, including repayment requirements, corrective action plans, and in serious cases, program termination. Archer Lewis works to deliver audits with no findings, submitted on time, that satisfy HUD reviewers without follow-up.
Talk to a HUD Audit Specialist
Common Questions
What property owners ask about HUD audits.
Most HUD-assisted multifamily housing programs require annual financial statement audits, including Section 8 Project-Based Rental Assistance, Section 236, Section 202, and others. The specific requirements depend on your program type and funding agreements. We determine exactly what's required for your properties at the start of every engagement.
HUD audits must follow HUD's Audit Guide in addition to generally accepted auditing standards. The financial statement format, supplemental schedules, surplus cash calculation, and electronic submission requirements are all specific to HUD. A standard audit doesn't satisfy HUD's requirements.
Surplus cash is the amount available for distribution to property owners after all required reserves, liabilities, and program obligations are funded. HUD requires a specific calculation methodology, and distributions taken in excess of allowable surplus cash must be repaid. It's one of the most scrutinized elements of HUD financial reporting.
Late submissions trigger noncompliance findings, which are reported to HUD and can affect your standing in the program. Repeated or significant lateness can result in more serious consequences. Archer Lewis manages deadlines as part of the engagement. You won't miss them.
Yes. We review prior findings, help you understand the root cause, implement corrective action, and prepare the response to HUD reviewers. Clearing prior findings is often a priority for new clients. We address them as part of bringing on a new engagement.
