Annual financial audits for LIHTC affordable housing projects

Why Your Project Needs An Annual Audit

Clear answers for LIHTC and HUD requirements

Annual affordable housing tax credit audits give partners, lenders, and agencies confidence that the numbers depict the work on the ground. Whether it’s a LIHTC partnership audit for a new construction in Mid-City Baton Rouge, or an established financial audit serving neighborhoods from Shreveport’s Highland to Jackson’s Fondren, we align scope and timing with investor and agency expectations. Investors depend on our audits for upper-tier tax credit reporting. That's why Little & Associates prioritize your reporting deadlines to satisfy Investors and help General Partners avoid penalties. Little & Associates brings regional context—Monroe, West Monroe, Lafayette, Lake Charles, Little Rock, Dallas, Houston—so reports land cleanly and on schedule.

Our Audit Process

Planning first, then efficient fieldwork and clean reporting

Here’s how Little & Associates handles annual financial audits for affordable housing tax credit projects: a scan of your partnership/operating agreement to identify requirements, such as reporting deadline and other important information, electronic data requests that focus on what matters allowing for easy document upload organized by entity, and fieldwork that minimizes disruption. Interim fieldwork to minimize bottlenecks and maximize efficiency. For multi-entity structures, we coordinate timing so investor K-1s aren’t held up and  reporting windows are met. If a project is preparing for cost certification, our audit ties out the details so your final reports move faster than your construction punch list.

What You’ll Receive

Complete, compliant audit deliverables

If applicable you’ll receive audited financial statements under required presentation guidelines, notes that address program-required items, and a management letter with practical, prioritized recommendations. When applicable, we package data for HUD REAC submission and provide schedules that align with your state allocating agency.

Who We Serve

Partnerships, developers and investors

Every organization has different audit drivers. For LIHTC entities, investor confidence is paramount. For partners, timeliness and net cash flow reporting lead. We tailor the audit plan accordingly—and because audit and tax preparation go hand-in-hand, we coordinate deliverables so filings stay on schedule.