A senior consultant and member of the Compliance Oversight Group at Mercadien, P.C., Richard Hoyt is responsible for planning and managing various agreed-upon procedure, consulting and audit engagements. This includes managing the engagement, training and supervising staff, and resolving issues with management.
Prior to joining Mercadien, Mr. Hoyt had an extensive auditing career with the New Jersey Department of Human Services. He was responsible for the review of each county’s Central Services Indirect Cost Allocation Plan to determine compliance with federal cost principles under the former OMB Circular A-87, as well as financial and compliance audits of federal pass-through funds and performance audits under Government Audit Standards. He performed fraud risk assessments and internal control assessments at state run institutions, including state mental hospitals and developmental centers.
Rick participates in many financial and single audit engagements, including performance audits under Government Auditing Standards. He has assisted state agencies in the development and implementation of monitoring techniques to ensure compliance with the Uniform Guidance, including federal cost principles for pass-through recipients of federal grant funding. This funding includes Community Services Block Grant, Low Income Home Energy Assistance Program, DOE Weatherization Assistance Programs, Temporary Assistance to Needy Families, Social Services Block Grant, Supplemental Nutrition Assistance Program and Medicaid, as well as various ARRA monies. He assists in overseeing all elements of our compliance oversight group, which provides compliance-related services to government and commercial clients.
Mr. Hoyt earned a Bachelor of Science degree in Commerce, concentrated in Accounting, from Rider University, and a Master degree in Taxation from Widener University. He is a Certified Public Manager and resides with his wife in Mount Laurel, NJ.