Joe,
I think the catalog is an excellent tool and resource and your plan to review with the administrative team. I have also used a "Quiz' or "Q&A" type approach for training and reinforcement of the catalog content.
Traci Lee
There are many areas that a school can be audited. One is the financial aid audit done yearly by an outside auditor. To prepare for this audit all year long at different intervals we are reviewing our Pell grant monies disbursements. WE are reviewing to be sure that the student was awarded the correct amount of Pell for the credits being taken during a semester. For the academic audits the files need to be reviewed of on-campus verses exited students. These files need to be complete with all documentation included necessary for compliance. For exited students it is good to pull a few files and redo the exit calculation to verify accuracy and timeliness of the calculation for title iv refunds. All in all a school needs to be proactive when it comes to audits. I feel it is always better for you to find your mistakes and short comings rather than wait for someone else to tell you, by then it is too late and the school may be on probation.
School Catalog - I would be proactive and make sure we (my administrative team of three)all had the current digital version available. Have the team meet on the designated Wednesday we determine would work after we all have had the time to re-read the catalog. We have the history of having created and revised the catalog together so we should have ample familiarity with it's content. Yet take this meeting with the team as an opportunity to review.
Every year our school is audited by the DE. We prepare with a pre audit three months before to verify that everything is in order.
If I were preparing for an audit, I would start by checking previous audit results and making myself familiar with findings from the past. This knowledge would give me something to keep in mind as I performed an internal audit to help avoid any repeat findings.
To be proactive or prepare, I would ensure I was able to audit at least 95% of my student records within a month period. I would audit all aspects of a defined number of student files each day to allow each student proper review.
Stephanie,
This is a great preparation checklist. Thanks for sharing.
Traci Lee
If the office has all policies and procedures in place, it is easy to prepare for an office. But, as humans, we make mistakes. What we do, is we do, kind of an internal audit, where one officer reviews files worked by another officer and so forth. This brings us any discrepancies in the files and we correct issues before an external audit arrives.
There is no perfect audit. However, there are ways to prevent repeated findings.
Be consistent.
Always follow your checklist.
Pull random files on a daily basis for "spot checks".
Also, keep a list of any findings so it can be corrected as soon as possible.
Always follow the procedures carefully, check for minor mistakes and make sure nothing is missing. Having check list on our folders to make sure that nothing has been left behind.
If I was on the receiving end of an audit I would prepare utilizing the following strategies;
„X Pre-Audit planning would include; conducting a meeting with all staff that will be directly involved in the audit process and review the list of items requested and develops strategies to make the audit more proficient.
„X Ensure compliance at all times by knowing the regulations the company must comply with.
„X Perform continuous self-audits to ensure accuracy and efficiency in all record management.
„X Ensure the process of filing and maintaining documentation is conducted in an organized manner and is consistent with the company policies and procedures.
„X Ensure that management has a complete understanding of the audit process, established deadlines and all other requirements.
„X Explain the audit process to the work team and request full assistance. Make certain the work team understand the timeframe of the audit process.
„X Review all related records and documentation prior to the audit.
„X Establish a contact person to work with the auditor to help answer any questions or provide documentation.
First, I will ensure availability of the items that is needed in the area where the auditing is taking place during the audit visit date. For example:
Vacant space,Telephone,Network service,Network printer, etc...
Also, I need to arrange an hour interview in the same week that the auditing is taking place with each of the followings:Financial Aid department head, Student Accounts department head, Head of Finance, etc...
I would choose my dysfunctional area and focus on that area
Linda, I agree with you. We have the same system in our schools.
I would review the requirements of the audit and what documentation is being requested. I would check my schools policies and prepare a small sample of files internally to review before the audit took place. My biggest area of concern is always Return to Title IV calculations and late refunds. I have seen that Return to Title IV calculations are errors that are found during a lot of audits.
Susan,
Well said on being proactive. It's much more difficult to obtain and organize needed items in a pre-audit crunch!
Traci Lee
The best way to prepare or be proactive in preparing for an audit is to have established processes which are followed as consistently as possible throughout the year. I have been in circumstances when an audit or review is coming up and I was notified at the last minute to get everything in order and organized. A reactive approach is not a good approach. I would make sure to create checklists for the biggest problems areas and ensure that the issues brought up from the last audit were addressed and corrected. I would then move on to the other areas included in the audit.
Becky,
I like to hear your recognition for the importance of a well trained Financial Aid department. These individuals are often overlooked.
Traci Lee
I am thankful that we are a higher learning institution who has a finical aid department who is equipped and trained to deal with all legal aspects as well as accreditation issues and I can refer to their expertise.
Rita,
Well stated - understanding the myriad of guidelines and regulations is critical to success. You also make a good point on data collection. Having the data and understanding how the data is selected for a report can aid in providing such details during an audit.
Traci Lee
The most important element in preparing for an audit is to know the criteria by which the school will be audited. The work begins after knowing the guidelines, and everyone involved can begin to ensure compliance at the highest level possible. Another huge consideration is collection of data. Not only is it important for compliance to 'happen' on a daily basis, proof of it must be collected and readily available. This, in the end, makes reviewing criteria and putting the proof in writing most effective for an official audit.
