AFFORDABLE HOUSING AUDIT SERVICES: FOR REAL ESTATE DEVELOPERS & PROPERTY MANAGEMENT SERVICE PROVIDERS
You can count on our decades of experience when it comes to credibility and accuracy of affordable housing audit work. LvHJ team is deeply experienced in conducting audits of financial statements presented in accordance with generally accepted accounting principles (GAAP) and audited in accordance with auditing standards generally accepted in the United States of America (GAAS) + additional standard(s), if required, including the following.
Our experience in affordable housing audit & reporting requirements
- Government Auditing Standards
- Single audit conducted under OMB Uniform Guidance
- Consolidated Audit Guide for Audits of HUD programs
- Uniform financial reporting standards for HUD housing programs
- Audited Financial Statements Handbook for Multifamily Rental Housing by California Department of Housing & Community Development (HCD) and California Housing Finance Agency (CalHFA)
- Employee Retirement Income Security Act of 1974 (ERISA) by U.S. Department of Labor
- U.S. Department of Agriculture Rural Development (USDA-RD)
Specialized audit services
LvHJ provides a wide variety of audit services to meet your needs at the corporate and property level and at various stages of property development, including:
- Consolidated financial statements for real estate developers and their affiliates
- Cost certifications for affordable housing projects (LIHTC, HUD, others)
- Accounting for complex real estate transactions
- Agreed-upon procedure engagements
- Debt service coverage ratio analysis
- Tenant eligibility/compliance review
- Break-even analysis
- Various certifications requested by the state Tax Credit Allocation Committee (TCAC), USDA-RD and other federal agencies
- HUD FASSUB/REAC filing, completion of the Agreed-Upon Procedures engagement and preparation of Supplemental Information Schedules, as required by HUD
Additional services
LvHJ’s services go beyond typical compliance engagements. Learn more about additional services we offer to affordable housing clients.