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HUD audit report template

HUD audit report template

Document HUD audit findings with sections for compliance issues, corrective actions, and remediation tracking that meets Chapter 7 requirements.

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HUD audit report template

Document HUD audit findings with sections for compliance issues, corrective actions, and remediation tracking that meets Chapter 7 requirements.

Use this template with Lumiform

  • Customize this template or build your own
  • Fill out templates via mobile app
  • Get reports and analyse your data
Prices start from ░░░ per month
Book a demo
Learn more
or Download template as PDF

A HUD audit report template helps you document findings from Department of Housing and Urban Development audits, specifically for Chapter 7 compliance. You’ll capture all required elements including findings, corrective actions in progress, and completed remediation steps in a structured format. When facing multiple compliance issues across housing properties, this template ensures nothing falls through the cracks by providing a consistent documentation framework.

According to the HUD Office of Inspector General, all material instances of noncompliance, significant deficiencies, and material weaknesses in internal controls must be reported as findings in audit reports, making proper documentation essential for avoiding penalties.

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Preview of the template
HUD Audit Report
General Information for the Audit
All material instances of noncompliance with any HUD requirement or regulation, significant deficiencies and material weaknesses in internal controls, instances of fraud or illegal acts, or contract violations that were disclosed during the audit process must be reported as findings in the audit report.
All non-material instances of noncompliance, deficiencies in internal control, instances of fraud or illegal acts, or contract violations relating to HUD programs disclosed during the audit process may be reported to management in a separate communication outside of the audit report.
Noncompliance, deficiencies, or instances of violations, which were corrected during the audit process or after the fiscal year under audit or disclosed as a part of the audit process before the end of the fiscal year under audit and before the issuance of the audit report, must be included in the report as resolved findings or in a management letter, depending on their materiality, regardless of whether they were found to be material or immaterial FHA compliance issues.
Content of Finding
Findings are to be presented in accordance with the standards and requirements of the Government Auditing Standards.
A finding should be supported by sufficient, competent, and relevant evidence.
A finding should be presented in a manner to promote adequate understanding of the matters reported and provide convincing but fair presentations in proper perspective.
Each finding is to be accompanied by a corrective action plan prepared by the lender.
Corrective Action in Process
Many times when lenders are presented with draft findings, they will start to take action to correct the deficient condition. When this action is underway and the auditor has completed his or her fieldwork, the lender may include the action completed and the action remaining to be taken in the lender’s comments and in the corrective action plan.
Regardless of whether the lender is in the process of correcting the finding, the auditor is to include the finding in the report with all required elements.
Test the documentation supporting the reviews and the reports of the TPOs and determine the accuracy and reliability of the reviews and reports.
Corrective Action Completed
Many times when the lender is presented with draft findings, it will start to take action and complete that action, correcting the deficient condition before the completion of the fieldwork. When this action occurs, the finding is still to be included in the audit report with all required elements.
The action taken or completed should be included in the lender’s comment section and should be validated by the auditor.
The recommendation section should follow the lender’s comment section, and the auditor should indicate whether any of the information is inconsistent with or in conflict with the report’s findings.
The auditor could include any additional recommendations he or she believes are necessarily based on the testing of that action.
Completion
Additional Comments
Auditor Name
Auditor Signature
Program Manager Name
Program Manager Signature
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Frequently asked questions

How do I properly document corrective actions in a HUD audit report?

Document corrective actions by clearly identifying each finding first, then detail the specific steps taken or planned to address the issue. Include responsible parties, implementation timelines, and verification methods. For in-progress actions, note current status and expected completion dates. For completed actions, provide evidence of resolution.

Can this template be used for all types of HUD program audits?

This template is specifically designed for Chapter 7 HUD audits but can be adapted for various HUD programs including multifamily housing, public housing, and Section 8. You’ll need to ensure you’re addressing the specific compliance requirements of your particular program while maintaining the core reporting structure.

How do I determine which findings are material enough to include in my HUD audit report?

Material findings include those that affect financial statement accuracy, reveal significant internal control weaknesses, or show noncompliance with laws and regulations. Consider both quantitative factors (dollar amounts) and qualitative factors (nature of finding). The template provides structure for documenting all levels of findings.

This template, developed by Lumiform employees, serves as a starting point for businesses using the Lumiform platform and is intended as a hypothetical example only. It does not replace professional advice. Companies should consult qualified professionals to assess the suitability and legality of using this template in their specific workplace or jurisdiction. Lumiform is not liable for any errors or omissions in this template or for any actions taken based on its content.