Concerned about your next audit?

Let us take the complexity out of the process.

Our team of experts specializes in audits for Housing Authorities and Non-Profits, ensuring compliance, transparency, and confidence in your financial health.

  • Ensure regulatory compliance
  • Gain peace of mind with accurate audit reporting
  • Focus on serving your community, while we handle the audit

We help you to avoid..

  • Surprise audit deficiencies or findings
  • Non-compliance with HUD or non-profit regulations
  • Financial misstatements
  • Delays in financial reporting
  • Stress during the audit process

Three Simple Steps

  1. Complete an Interest Form
  2. We Connect
  3. Receive a Timely, Low-Stress Audit

Partner with our audit professionals to ensure your Housing Authority or Non-Profit meets compliance standards without stress.

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We help you to avoid..

At Smith Marion, we specialize in providing audit services for Housing Authorities and Non-Profits. With our deep understanding of HUD regulations, OMB Uniform Guidance, and other non-profit compliance requirements, we offer comprehensive services that ensure accuracy, transparency, and compliance with all applicable regulations.

Whether you need an annual financial audit, a single audit, or reviewed financial statement, our team is dedicated to helping you identify risks, improve financial reporting, and meet regulatory expectations. We also offer guidance on how to improve your internal controls and financial processes to enhance your organization’s efficiency and long-term sustainability.

Here’s How to Get Started

  1. Fill Out the Interest Form
    Let us know about your organization’s audit needs.
  2. Connect
    A specialist will reach out to discuss your requirements and timelines.
  3. Simplify Your Audit Process
    Take the first step today by completing the interest form. Let us manage your audit, so you can focus on your mission.
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What Makes Smith Marion’s Audit Services Different?

At Smith Marion, we understand the unique challenges that Housing Authorities and Non-Profits face when it comes to audits. Compliance with HUD regulations, OMB Uniform Guidance, and other specific requirements can be overwhelming, but our team is here to help guide you through the process. With our deep expertise in these sectors, we provide audits that ensure compliance and financial transparency.

Managing audits independently can feel daunting, especially when considering regulatory complexities. That’s why we take a tailored approach to audit services, designed specifically to meet the needs of Housing Authorities and Non-Profits. Our experienced auditors work closely with your team to ensure a smooth, efficient audit process while minimizing disruptions to your operations.

Our specialized audit services include financial statement audits, single audits, and internal control assessments. Whether you’re a small non-profit or a large Housing Authority, we provide the expertise needed to stay compliant and secure.

We’re here to help you:

  • Ensure full compliance with HUD and non-profit regulations
  • Identify risks and improve internal controls
  • Deliver transparent, accurate financial reporting

Ready to simplify your audit process?

Start by scheduling a call and accessing our Audit Preparation Guide to see how we can assist you. Together, we’ll ensure your organization is audit-ready, compliant, and positioned for financial success.

HUD & Housing Authority Audit FAQs

GAS stands for Government Auditing Standards. These standards govern audits of government entities and organizations receiving government funds and require enhanced rigor in ethics, independence, professional judgment, and accountability beyond Generally Accepted Auditing Standards (GAAS).

A Yellow Book audit refers to an audit conducted in accordance with Government Auditing Standards (GAGAS), issued by the U.S. Government Accountability Office (GAO). These standards strengthen accountability, transparency, and oversight of public funds for government entities and organizations that receive federal funding.

Yellow Book audits are required when organizations meet federal expenditure thresholds triggering a Single Audit, when mandated by local, state, or federal law or regulation, when required by grant agreements, or when specified by funding agencies.

A Yellow Book audit must be performed by an independent external audit organization, typically a licensed CPA firm or qualified government audit office. The firm must comply with Government Auditing Standards, maintain strict independence, undergo peer review, meet CPE requirements, and document competence, independence, and due professional care.

Housing Authority REAC unaudited submissions are due two months after year-end. Audited submissions are due nine months after year-end. Federal Audit Clearinghouse submissions are due nine months after year-end or 30 days after receipt of the audit report. Some state agencies may require earlier submission deadlines.

A Single Audit is required under Uniform Guidance for entities that expend $750,000 in federal awards for fiscal years prior to September 30, 2025, and $1,000,000 for fiscal years ending on or after September 30, 2025.

Common causes include differences between FDS and VMS balances, incorrect HAP or port-in expenses, audit expense discrepancies, pension and OPEB reporting differences, missing or incorrect UML and UMA numbers, and significant interfund balances.

Common findings include lack of waiting list documentation, interfund balances related to public housing operations, missing inspections on move-in dates, and failure to follow procurement policies.

Common findings include failure to follow HQS inspection timelines, improper abatement of landlord payments, inadequate documentation of rent reasonableness, and missing waiting list documentation at voucher issuance.

Common findings include unsupported CFP draws, improper cash management practices, failure to follow procurement policies, and failure to submit HUD Form 53001 within required timelines.

Smith Marion completes the full FDS submission process, including data entry, validation, compliance review, certification, and submission to REAC in accordance with HUD requirements.

Yes. Smith Marion provides comprehensive support for HUD QA reviews, including issue analysis, documentation review, compliance validation, and preparation of formal written responses supported by reconciliations and documentation.

Federal Audit Clearinghouse submissions are due nine months after fiscal year-end or 30 days after receipt of the audit report, whichever occurs first.

The Rental Assistance Demonstration (RAD) program allows public housing authorities to convert public housing to long-term project-based Section 8 contracts, enabling asset preservation, financial stability, and improved housing quality for residents.

RAD enables access to private capital for rehabilitation, long-term Section 8 contract stability, preservation of housing units, improved living conditions, strong resident protections, and long-term financial sustainability for PHAs.

PBRA (Project-Based Rental Assistance) is administered directly by HUD through Multifamily Housing, while PBV (Project-Based Vouchers) is administered by local PHAs through the Housing Choice Voucher program under PIH. The programs differ in administration, funding flow, rent setting, unit caps, contract terms, and operational control.

The Moving to Work (MTW) demonstration program allows participating agencies flexibility in how they use Section 8 and Section 9 funding while maintaining statutory protections, compliance requirements, and resident protections.

Contact Us

Let’s connect to discuss how we can support your business goals and help you navigate your financial journey with confidence.