By Michael Wherry, CPA The old adage “what doesn’t kill you makes you stronger” is relevant to our clients who have gone through their first student financial aid compliance audit under the September 2016 Audit Guide (Guide). The Guide certainly caused an increase in the amount of work and posed some...
By Marissa Cameron, CPA There have been many changes that have come with the update to the Guide for Audits of Proprietary Schools and for Compliance Attestation Engagements of Third-Party Servicers Administering Title IV Programs (Guide) that was released in September 2016. Many Institutions have become very familiar with these changes as they...
Originally published in the November 2016 issue of Career Education Review, and reproduced here with permission. Article originally posted at careereducationreview.net When the expression “all good things come to those who wait” was first used it probably didn’t have the student financial program regulations in mind. While postsecondary schools and auditors have been...
To build on our recent communications regarding the Department of Education’s newly revised guide for audits of proprietary schools, we wanted to provide this advanced notice of some new items we will be requesting – beginning with our audits for clients with fiscal years ending June 30, 2017. If you...
The new audit guidelines have brought about a multitude of obstacles for secondary education leaders and auditors alike. McClintock & Associates Director, Mike Wherry recently co-presented a webinar on the “New Audit Guidelines for Higher Educational Institutions alongside Aaron Lacey of Thompson Coburn. The webinar provides the need to know...
On September 27th, the Department of Education finally released the new Audit Guide for proprietary schools and Title IV third party servicers. The new guide will be effective for fiscal years beginning after June 30, 2016. McClintock & Associates has reviewed the new Audit Guide and is in the process of...
By Douglas T. Mawhinney The Department of Education has recently announced that students without a high school diploma (or recognized equivalent) may soon be able to receive Title IV funds through the reintroduction of Ability to Benefit Alternatives (http://www.ifap.ed.gov/dpcletters/GEN1509.html). This option is available only for students enrolled in an “eligible career...
By Luke Hoey & Greg Rinderle The Department of Education (ED) recently announced that the selection criteria that are used in determining whether a student has an Unusual Enrollment History (UEH) have been modified. Beginning with the 2015-16 FAFSA processing year, NSLDS will flag an application based on a student’s receipt...