Low-Income Housing Tax Credits audits can be stressful. They require a lot of work, and even then, you are not guaranteed success. Learn some tips for LIHTC audits, which will make the process smooth sailing and efficient, and will ensure that you get an A rating on the audit.
LIHTC audits are a lot of work, and you’ll want to get started as soon as you get notice of an impending audit. However, before you begin, you must first know what to do and how to do it, to ensure success. During this webinar, our expert speaker Paul Flogstad will walk you through the subject, delivering tips and providing useful information which will help you obtain an A rating every time.
You will learn how to set up your files, what you should and should not include in the audit, what items you need to look out for, and how you should prepare for the physical inspection portion of the audit. However, that is not all. You will also obtain some extra tips, such as what LIHTC auditors look for, how to interact with them, and what are common compliance issues.
There is a lot of preparation involved, in an audit. The auditor may want first-year and current resident files, and actual units, building grounds, marketing records, utility-allowance documentation, and waiting and refused lists. In addition to these, account records (including the rent roll) may also be required. You will have to ensure that these are all in good shape.
By the end of the webinar, all your questions on the subject will have been answered, and you will be In possession of information and tools which will help you make your next audit a perfect success.
- Obtain tips for a successful LIHTC audit
- Learn how to receive an ‘A’ rating in your audit every time
- Learn which are the common compliance issues
- Learn what LIHTC auditors look for
- Learn how to interact with the auditor for best results
- Learn how to set up your files
- Find out what you should and should not include in the audit
- Learn how to prepare for the physical inspection of the audit
- Find out which documents you may need
- Learn how to keep accounting records in good shape for an audit
Who will benefit:
The following people will benefit from, and should therefore attend, this webinar:
- Housing Authority Staff
- Property Managers
- Property Owners
- Property Lenders
- LIHTC Auditors
- CFO's and Accounting Professionals
- Finance Professionals
- Administration Department
- Advisor and Consultant