The FAO and the instutition as a whole have a fuduciary responsibility to be familiar with and uphold all regulatoins.
The FAO have a responsibility to stay on top of new regulations as well.
There are a strict penalities involved, so make sure everything is set up right! There should be some general precausion that need to be taken when setting up stuff with staff and hiring individuals!
I have learned that FAO's should be educating themselves on compliance issues and that knowledge is power
FAO's are trusted and should use that trust to direct students with integrity and in their best interest.
The handling of FA by a college/university could make or break the college/university. Care should be taken on the hiring of FAO's. Continuing Education is critical.
