Auditing government funded or insured projects is a highly specialized area of accounting involving many complex rules and regulations. Our firm has developed the skills, resources, personnel and technical expertise required for this specialty area.
Having provided this service to several of the area’s largest real estate developers for such a long period of time, we have gained a strong working knowledge of Government Auditing Standards issued by the Comptroller General of the United States, Consolidated Audit Guide For Audits of HUD Programs issued by the U.S. Department of Housing and Urban Development, audits under Uniform Guidance, audit requirements of the U.S. Department of Agriculture Rural Development and New York State Homes and Community Renewal (NYSHCR) and the Rental Assistance Demonstration (RAD) Program.
We provide to management the services necessary to comply with all government requirements for government funded or assisted programs. As part of our service we provide advice and assistance to clients as to the means of improving internal controls, management controls, operating controls, and policies and revenue enhancement or cost reduction ideas.
In addition to the above, our firm has developed a proficiency in assisting clients in the syndication of their real estate developments with New York State Housing Finance Agency (NYSHFA) bonds as well as attracting new investors. This may include the preparation of financial forecasts or assistance in the preparation of syndication packages. Since many projects are eligible for favorable tax benefits in the form of low income housing credits, our firm has developed an expertise in this area.