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This audit guide is intended to assist independent auditors in performing audits of profit-motivated program participants in selected HUD Housing and Ginnie Mae programs that are subject to HUD’s uniform financial reporting standards (See 24 CFR (Code of Federal Regulations) Part 5, Subpart H, and 24 CFR Part 202.5(g)).

Audits under the Guide must also be performed in accordance with the standards for financial audits in Government Auditing Standards, issued by the Comptroller General of the United States.  HUD OIG continues to work on a revision of the Guide.  The revised Guide is being issued on a chapter-by-chapter basis.

(Note:  Not-for-profit and governmental organizations that participate in HUD housing programs would fall under the requirements of the Single Audit Act and the Uniform Grant Guidance at 2 CFR Part 200.500).

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This audit guide is divided into chapters.  Chapter 1 documents the purpose, background, and general requirements for performing a HUD-required audit. It also includes other matters the auditor should consider in preparing for the audit. Chapter 2 contains the reporting requirements. Both chapters 1 and 2 apply to all audits covered by this audit guide. Each of the remaining chapters contains procedures for auditing compliance with requirements pertaining to the specific HUD program(s) being audited.