HUD OIG has initiated the annual HUD Consolidated financial statement audit and has contracted with CliftonLarsonAllen LLP (CLA) to conduct the audit. The objectives of CLA’s audit are to (1) express an opinion on whether HUD’s consolidated financial statements are fairly presented and adequately disclosed, in all material respects, in accordance with U.S.

HUD OIG has initiated the annual FHA financial statement audit and has contracted with CliftonLarsonAllen LLP (CLA) to conduct the audit. The objectives of CLA’s audit are to (1) express an opinion on whether FHA’s fiscal years 2022 and 2021 financial statements are fairly presented and adequately disclosed, in all material respects, in accordance with U.S.

HUD OIG is conducting an audit to assess HUD’s overall fraud risk management program, and to identify fraud risks for funds that HUD received from the Coronavirus Aid Recovery and Economic Stability Act and American Rescue Plan Act.

HUD OIG is reviewing GNMA’s financial crisis readiness program. To ensure its mission, GNMA must be prepared for a broad range of crises, including financial crises, that could impact itself or its issuers. Our objective is to determine whether GNMA implemented a financial crisis readiness program that met industry best practices.

HUD OIG is conducting an audit of HUD’s compliance with the Payment Integrity Information Act of 2019 (PIIA).  HUD is required to review all programs and activities they administer that may be susceptible to significant improper payments and publish payment integrity information in its Annual Financial Report (AFR) in accordance with OMB guidance.  Our objectives are to assess (1) whether HUD has met all requirements of PIIA and OMB Circular A-123, Appendix C-Requirements for Payment Integrity Improvement and (2) HUD’s efforts to prevent and reduce improper payments. 

HUD OIG is conducting a Corrective Action Verification on two prior HUD OIG audits of HUD's Purchase Card and Travel Card programs.  The review will verify if the corrective actions taken by the Department on the recommendations issued under reports, 2020-KC-0001 Purchase Card Audit and 2020-KC-0002 Travel Card Audit, addressed the underlying issues and risks.

HUD OIG is auditing the risk to the FHA fund from uninsured flood damage. The objective of this audit is to determine whether borrowers of FHA-insured loans maintained proper flood insurance coverage. This audit will cover FHA-insured forward and reverse mortgages active throughout calendar year 2020.

HUD OIG is auditing HUD’s compliance with the Digital Accountability and Transparency Act of 2014 (DATA Act) as it relates to HUD’s program funds and Coronavirus Aid, Relief, and Economic Security (CARES) Act funding.  OMB requires Federal agencies to report all financial and award data in accordance with DATA Act reporting standards which is displayed on USASpending.gov, a publicly available website.  This audit is statutorily mandated by the DATA Act and is the last of three required audit reports due by November 8, 2021.

In response to a request from the The U.S. House of Representative’s Committee on Appropriations, HUD OIG is evaluating  HUD's use, accounting, and reporting of Coronavirus Aid, Relief, and Economic Security Act (CARES Act) funding.  Our objectives are to, 1. To assess1 the U.S. Department of Housing and Urban Development’s (HUD): a. Use2 of Coronavirus Aid, Relief, and Economic Security Act (CARES Act) funding. b. Accounting3 of CARES Act funding. c. Reporting of CARES Act funding. 2.

HUD OIG is auditing the Federal Housing Administration’s (FHA) Home Equity Reverse Mortgage Information Technology (HERMIT) system as part of the internal control assessments required for the fiscal year 2019 financial statement audit under the Chief Financial Officer’s Act of 1990.  HERMIT provides an end-to-end solution (loan origination to disposition) on the Home Equity Conversion Mortgage (HECM) case-processing activities and assists FHA in efficiently managing the HECM portfolio.