TOP TEN COMPLIANCE AUDIT FINDINGS

Financial Aid Audit Findings

It’s a new year and as always, we’ve got this year’s top ten compliance audit findings.

These findings represent data ED culled from institution’s annual audits and compliance examinations during the most recently completed fiscal year (2017).

1. NSLDS Roster Reporting – Inaccurate/Untimely Reporting
2. Repeat Finding-Failure to Take Corrective Action
3. Return of Title IV (R2T4) Calculation Errors
4. Return of Title IV (R2T4) Funds Made Late
5. Verification Violations
6. Entrance/Exit Counseling Deficiencies
7. Qualified Auditor’s Opinion Cited in Audit
8. Pell Grants – Overpayment/Underpayment
9. Student Credit Balance Deficiencies
10. G5 Expenditures Untimely/Incorrectly Reported

Findings like the ones on this list are preventable and if you’ve already been cited for non-compliance, corrective action can be made.

Higher Ed Executives provides colleges and universities with objective and confidential assessments that can help you uncover unknown compliance problems, and improve Title IV administrative and operational procedures and processes.

Our comprehensive assessments cover the full spectrum of Title IV Program Participation Requirements and Program Administration incuding:

  • Standards of Administrative Capability
  • Packaging, Awarding and Disbursing FSA Funds
  • Fiscal and Administrative Controls
  • Institutional Eligibility
  • The Federal Perkins Loan Program
  • The Federal Work Study Program
  • The Federal Supplemental Opportunity Grant
  • The Federal Pell Grant
  • The Federal Direct Loan Program

Call us today for a free obligation consultation and to find out how our assessments can work for you.

Call 203-836-4806