Frequently Asked Questions

We specialize in audits for Multifamily Housing Programs (Section 8, Section 202, Section 811), Mark-to-Market properties, HUD-insured multifamily projects, and FHA-approved lenders. Our expertise covers projects ranging from 85 to 500+ units.

Owners and agents of HUD-assisted multifamily projects, FHA-approved lenders (both single-family and multifamily), and entities receiving HUD program funds are generally required to have annual audits conducted in accordance with HUD guidelines.

REAC (Real Estate Assessment Center) is HUD’s system for assessing the condition of HUD’s portfolio. Financial statements must be filed electronically through REAC by the March 31st deadline. Late or incorrect filings can result in penalties and jeopardize program participation.

Be sure your accounting records are in good shape and all Balance Sheet accounts are supported by backup documentation. Your accounting staff can create what is called a lead sheet for all balance sheet accounts. A lead sheet details all account activities including attachments that support all major entries. Being audit-ready can significantly reduce the time (and cost) of your audit.

Our fees vary based on the size and complexity of your project. However, because of our exclusive HUD specialization and streamlined processes, our clients typically save up to 50% compared to general CPA firms. We provide flat-fee pricing with no hidden costs. Contact us for a free, no-obligation quote.

Yes. We provide transparent, flat-fee pricing for all our audit engagements. You will know exactly what the audit will cost upfront with no surprises. This is one of the benefits of our specialization, as we can accurately scope HUD audits due to our extensive experience.

Get all audit work papers “audit ready” for your accountant by the first week of February, as the Financial Statements need to be filed with REAC by March 31st (or March 30th in a leap year). The earlier you get organized, the smoother the process will be.

Once we receive your complete records, we typically complete fieldwork within 2-4 weeks. We always aim to have your financial statements ready for REAC submission well before the March 31st deadline. Our specialization allows us to work much more efficiently than general firms.

Generally, you will need trial balances, general ledger detail, bank reconciliations, tenant rent rolls, HAP (Housing Assistance Payment) schedules, reserve for replacement statements, insurance policies, management agreements, and HUD correspondence. We provide a detailed checklist during planning.

Yes! While we are headquartered in California, we serve clients in all 50 states. Our secure client portal powered by Thomson Reuters makes it easy to collaborate regardless of your location. We have clients from coast to coast.

Simply request a free quote through our website or call us at (866) 320-3310. We will discuss your specific needs, project details, and provide a customized, flat-fee proposal for your HUD audit. There is no obligation and no pressure.

We use Thomson Reuters secure client portal, which provides enterprise-grade encryption, secure file transfer, and compliant document management. Your sensitive financial data is fully protected throughout the engagement.