UNITED STATES DEPARTMENT OF AGRICULTURE
RURAL DEVELOPMENT
WASHINGTON, D. C.

AUDIT PROGRAM

RURAL DEVELOPMENT
Rural Housing Service
Rural Business-Cooperative Service

Audits of Recipients of Rural Development
Grants, Loans, and Loan
Guarantees

The attached Audit Program provides important guidance for independent public accountants in conducting financial statement audits of recipients of Rural Development grants, loans, and loan guarantees, except for those audits required to be performed in accordance with Office of Management and Budget Circular A-133.

This Audit Program may not be changed, altered, revised, or modified without the concurrence of Rural Development.

APPROVED BY _______/S/____________________ 09/15/06
                                VAN B. JORSTAD                        Date
                                Chief Financial Officer
                                Rural Development