THDA's Internal Audit Division is comprised of the Compliance section and the Internal Audit section. The Internal Audit section is responsible for independently auditing and evaluating internal controls for all agency programs and organizations servicing our loan portfolio. They ensure compliance with applicable laws and regulations, and promote operational efficiency to streamline and safeguard programs. The Compliance section is responsible for ensuring compliance throughout the affordability period on HOUSE and HOME grantees and those receiving Low-Income Housing Tax Credits. In addition, the Quality Control Officer for the Section 8 Contract Administration Division is housed in the Compliance section to afford appropriate independence when reviewing functions within this division.

For calendar year 2001, the Internal Audit section completed the following reports: Quality Control Review, 2000; Follow-up of Performance Audit 2001; and Guarantee Trust Investigation. The Compliance section completed 116 audits of low-income housing property and 14 audits of housing grant property. We conducted numerous on-site training sessions for owners of low-income housing credits and grant recipients. We held three Best Practices for Compliance Monitoring Workshops, along with three Manager's Workshops, and two Owner's Workshops.