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In comparing the Top Ten Program Review and Compliance Audit Findings for fiscal year 2018, five of the Top Ten findings are listed in both types of review/audit. Most notably, topping both charts is "Student Status - Inaccurate/Untimely Reporting" which can easily be mitigated when policies & procedures are adhered to. This fundamental principle applies to all other findings shown on this chart to ensure compliance and avoid any potential fines and/or liabilities, jeopardizing an institution's eligibility for continued participation in the Title IV, Federal Student Aid programs.
Have you established proper internal controls to prevent and correct these deficiencies? What is your school doing to avoid potential findings/liabilities? Not sure? We can help. Call us today at 1-816-286-4995 or via email at support@synergy-associatesLLC.com.
#compliance #highered #titleiv #financialaid #reporting #riskmanagement #regulations #audit #procedures
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