In November 2020, Richey May hosted a webinar reviewing the latest findings on preparing for your HUD Financial Statement Audit. Topics included:
- Planning ahead
- Remote audit logistics
- Technical accounting updates/standards (Lease accounting, PPP forgiveness, etc.)
- Learning from the past – what slowed us down?
- Timeline – have a plan and let audit team know when milestones are missed
- Asking questions – open lines of communication
- Facilitation tools
- Loan loss reserves – has to be valid, we’re going to test it
- Other key topics that may have an impact, such as 2020 delinquencies and more
