Opportunities To Improve Audit Operations, Department of Housing and Urban Development
FGMSD-76-83: Published: Oct 19, 1976. Publicly Released: Oct 19, 1976.
- Full Report:
Audit coverage of Department of Housing and Urban Development (HUD) grant programs in Washington and Oregon during fiscal years 1974-1976 was reviewed in terms of the Accounting and Auditing Act of 1950. This Act requires the head of each executive agency to establish and maintain appropriate audit capability to provide effective control over funds, property, and other assets. HUD audits had been made on about 95 percent of the categorical grant programs.
There are several areas in which HUD could improve its procedures and thereby provide for more efficient and effective audits of financial records and compliance with applicable laws and regulations. Better procedures are needed to insure that periodic audits are made under the community development block grant program. Emphasis should be placed on eliminating duplicate audit requirements and procedures. The reporting system on open audit findings needs improvement.