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Compliance Audit

Valerie,

In some cases your scenarios are correct; however, most non-compliance will result in less drastic measures. Non-compliance findings my result in reconstructions (which can be costly to the institution), fines, repayment with interest/penalty), and loss of eligibility to offer TIV funds. Institutions should inspect the work being done in all areas to prevent non-compliance.

Thanks, Chyrl

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