CCH’s Knowledge-Based Audits of Housing and Urban Development Programs is now available on Accounting Research Manager. CCH, a Wolters Kluwer business provides tax, accounting and audit information, software and services to tax, accounting and business professionals.
HUD multifamily housing programs are one of the most discussed engagement topics among HUD audit professionals and the latest title for conducting audits of HUD program participants also comes with a guide and toolset to ensure compliance with professional standards. All three components are compliant with the new clarified auditing standards issued by the AICPA and are available through ProSystem fx Knowledge Coach and IntelliConnect.
“CCH’s KBA HUD title, guide and toolset are the most comprehensive, scalable and robust industry resources available, offering step-by-step guidance and clear explanations for complying with AICPA and HUD auditing standards,” said Rachel Mavrak, CCH Product Line Manager. “Not only does this valuable resource simplify the new clarity standards, but it also helps increase the effectiveness and efficiency of practitioners specializing in HUD audits.”
The Knowledge-Based Audit Methodology: HUD Programs toolset provides details pertaining to the financial statement and compliance sections of the HUD engagements: HUD Multifamily Housing Programs; HUD Multifamily Hospital Programs; Insured Development Cost Certifications; Ginnie Mae Issuers of Mortgage-Backed Securities; HUD-Approved Title II Nonsupervised Mortgagees and Loan Correspondents; and HUD-Approved Title I Nonsupervised Lenders and Loan Correspondents.
The new auditing standards for audits of financial statements are effective for periods ending December 15, 2012 or later. CCH will continue to publish new titles, guides and toolsets for other industries impacted by AICPA clarity standards.