Linda,
Being new to the financial aid arena may make the annual audit or other types of review more difficult initially; however, there are several documents (SFA Handbook, Audit Guide, etc.) that are available to you that may answer any questions that may come up. This information will provide guidance on processing of FAFSA's and satifying requirements of ISIR's also.
The process of financial aid is exciting from all aspects.
Sincerely, Chyrl