Everett Neely

Everett Neely

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My takeaway in this section is the need for fact-based auditing.  I was happy to read that it is imperative in the audit process that the presentation of information be fact versus opinion-based.

 

Gramm-Leach-Bliley (GLB) Act

My takeaway in these sections on the Gramm-Leach-Bliley Act.  It provides specific guidelines for privacy.  This is important for me because privacy continues to be an issue today.  

My takeaway is the Reauthorization Act of 1992 which in summary requires that no more than 90% of revenue be derived from Federal Student Aid fund sources.   This was an eye-opener for me. 

 This is my take away.  When prioritizing, some things to consider include:

  • Areas of high-performance expectations
  • Areas commonly cited within the industry
  • Areas where there have been repeat findings (internal and/or external)
  • Areas with unproven management control systems/mechanisms

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