HUD Financed Properties

Expertise in the regulatory and auditing requirements of HUD projects is essential to helping clients comply with the complex maze of regulations. We have been serving HUD-regulated clients in both the for-profit and the not-for-profit sectors for more than 30 years. We have extensive experience in assisting our clients with the electronic submission of financial statements through the Real Estate Assessment Center’s (REAC).

Nicholson & Olson, CPA’s is a member of the American Institute of Certified Public Accountants (AICPA), and is an active member of the AICPA’s Government Audit Quality Center http://gaqc.aicpa.org.

Services provided to our HUD financed clients include:

  • HUD audits
  • Preparation of federal and state tax returns
  • Compliance testing in accordance with HUD
  • Preparation of supplemental schedules required by HUD
  • Application of agreed-upon procedures for the electronic submission required by HUD’s Real Estate Assessment Center (REAC)

As required by the AICPA, Nicholson & Olson undergoes an independent peer review of the quality control policies and procedures within the Firm’s accounting and auditing practices. We have received a clean opinion on our Peer Review.