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Línea Directa

REPORTAR FRAUDE, DESPERDICIO O ABUSO
  • Recommendation Number: 2025-FO-0003-001-B
  • Status: Open
  • Date Issued: Noviembre 15, 2024

We recommend that the Deputy Assistant Secretary for Operations of Community Planning and Development enhance CPDs existing Grant Accrual Standard Operating Procedures to strengthen governance within CPD and to effectively work within the framework established by the OCFO in recommendation 1A. The updated procedures should include increased ownership and oversight over the reviews, authorizations, approvals, and changes to the CPD grant accrual estimates and methodology.

Publication Report

2025-FO-0003 | Noviembre 15, 2024

Audit of the U.S Department of Housing and Urban Development’s Fiscal Years 2024 and 2023 Financial Statements

We contracted with the independent public accounting firm of Sikich CPA LLC to audit the financial statements of HUD as of and for the fiscal years ending September 30, 2024 and 2023, and to provide reports on HUD’s (1) internal control over financial... más

Related Recommendations

Chief Financial Officer

  •  
    Status
      Open
      Closed
    2025-FO-0003-001-A
    Summary

    We recommend that the Chief Financial Officer enhance existing policies to establish a formal grant accrual risk management framework to help ensure consistent standards across HUD with regard to the development, review, and execution of the grant accrual and validation. This framework should include 1) identifying grant accrual estimation risk, assessing the magnitude of this risk, and managing the risks that arise when using certain quantitative estimation methods, 2) a governance structure that includes estimation ownership, oversight, and framework assessment, 3) the creation of a committee that is responsible for establishing a holistic approach to estimation risk management, including key stakeholders from OCFO and program offices, such as CPD, and 4) a requirement for documentation of committee meeting agendas, minutes, and key decisions and discussion points which impacts the various grant accrual methodologies across the Department.