During our audits of housing properties we not only look at all financial statements, but examine and test the financial figures to obtain the necessary knowledge and understanding of each property before making an opinion as the whether or not the financial statements are free of material mistatements.
We’ve continued to serve HUD properties, Housing Authorities, USDA Rural Development properties, Low-Income Housing Tax Credit properties, Mixed Finance properties, State of Connecticut and State of Michigan Department of Housing and Urban Development properties as well as Historic Tax Credit properties and have performed Cost Certifications for the better part of three decades.
We do so with an optimal level of due diligence.
Housing Authorities are almost entirely financed with government dollars. Therefore, the local agency has to follow Housing and Urban Development procedures and meet its standards. At Maletta & Company, our expert staff knows these procedures and standards. Our audits provide the assurance that the government's dollars and grants are being used as mandated.
HUD's regulations also require the submission of an annual audit report as a condition of continued HUD-FHA approval.
The Audit Guide requires the auditing company to comply with Generally Accepted Governmental Auditing Standards as established in the Standards. Maletta & Company has always followed these standards.
At the end of our audit, we provide written supplemental evaluation of internal accounting controls and compliance testing as mandated by HUD regulations.