Literaturnachweis - Detailanzeige
| Institution | Office of Inspector General (ED) |
|---|---|
| Titel | Federal Student Aid Controls over the School Verification Process. Inspection Report. ED-OIG/I06S0001 |
| Quelle | (2021), (26 Seiten)
PDF als Volltext kostenfreie Datei |
| Sprache | englisch |
| Dokumenttyp | gedruckt; online; Monographie |
| Schlagwörter | Student Financial Aid; Audits (Verification); Public Agencies; Compliance (Legal); Program Evaluation; Management Information Systems; Guidance; Higher Education; College Students; Reports; Federal Government |
| Abstract | The objective of this inspection was to describe Federal Student Aid's (FSA) control activities over institutional processes for completing verification and reporting verification results in accordance with Federal requirements. The inspection covered award years 2016-2017 and 2017-2018 (July 1, 2016, through June 30, 2018). It was found that FSA implemented control activities over institutional processes for completing verification procedures and reporting verification results. Specifically, five significant control activities over these processes were identified: (1) annual compliance audits; (2) program reviews; (3) W code reports; (4) management information system (MIS) reports; and (5) verification guidance. It was found that FSA performed ongoing monitoring of the verification guidance control activity; but FSA did not monitor the other control activities on a regular basis. However, in September 2018, FSA's Enterprise Risk Management (ERM) group issued a document titled "Verification Internal Review Report" (ERM Report) that described its separate evaluation of the processes FSA had in place to ensure institutions performed verification. It was found that FSA did not address all of the control issues identified in the ERM Report and did not always determine the appropriate corrective actions or complete or document the corrective actions taken. The following recommendations are provided for FSA's Acting Chief Operating Officer: (1) establish and operate monitoring activities, including ongoing monitoring, separate evaluations, or a combination of the two to obtain reasonable assurance of the operating effectiveness of FSA's verification control activities; (2) establish processes to ensure that FSA management evaluates and documents corrective actions, or if corrective actions are not warranted, for verification control weaknesses identified by monitoring activities; and (3) for issues identified with its verification control activities in the 2018 ERM Report and other monitoring activities, ensure that FSA management evaluates and documents corrective actions, or if corrective actions are not warranted. FSA agreed with the findings and all but one recommendation. (ERIC). |
| Anmerkungen | Office of Inspector General, US Department of Education. Available from: ED Pubs. P.O. Box 1398, Jessup, MD 20794-1398. Tel: 877-433-7827; e-mail: edpubs@edpubs.ed.gov; Web site: https://www2.ed.gov/about/offices/list/oig/managementchallenges.html |
| Erfasst von | ERIC (Education Resources Information Center), Washington, DC |
| Update | 2024/1/01 |
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