Program Reviews and Audits | Origin: FA230
This is a general discussion forum for the following learning topic:
Financial Aid Management - Compliance without Compromise --> Program Reviews and Audits
Post what you've learned about this topic and how you intend to apply it. Feel free to post questions and comments too.
I have learned that preparing for an audit should involve multiple sources. And that a plan needs to be set in place. Communication is key and that regulations need to be followed as strictly as possible.
Communication to and from diffirent agencies is key to all of this! You have to prepared diffirent situtions and that's exactly what this chapter tackled. You need a place for auditing.
I agree that all departments must have effective communication and preparation for all upcoming audits, team work is essential.
Having a practice or reviewing and tweeking policy and procedures ncampus wide is critical to maintaing compliance
I have learned that it is a team effort ot prepare for an audit. It is most important to have policies/procedures in place to ensure an audit finds onyl minor issues due to human error, not a systematic problem.
Knowing the most common and costly findings is helpful in developing an internal audit program for the institution that puts emphasis on those areas.
What time frame is considered a long time since the last review under the triggers of a review or audit selection criteria?
I learned what can trigger an audit or review.
learned sweveral actions that can trigger a audit review and ways to address the issue
It a lot responsibility but we have to make sure to follow the law and regulations and the guidelines. Also have private audit to supervised everything is in compliance
