Characteristics associated with audit delay in the monitoring of low income housing projects

Abstract

Federal agencies rely heavily on the annual audit report to monitor the stewardship of public funds. This study examines the impact of audit delay on the monitoring of low-income housing projects. Specifically, project characteristics correlated with delayed audit reports are determined. Significant differences between projects filing audit reports on time and those filing late are also analyzed. Importantly, samples of both Farmers’ Home Administration (FmHA) and Housing and Urban Development (HUD) projects are examined, with private and public/municipal housing projects included in each sample. The results of this study have monitoring applications for users of the audit report and implications for federal regulators.

Citation

Lawrence, J. and Bryan, B. (1996), "Characteristics associated with audit delay in the monitoring of low income housing projects", Journal of Public Budgeting, Accounting & Financial Management, Vol. 10 No. 2, pp. 173-191. https://doi.org/10.1108/JPBAFM-10-02-1998-B002