Number: 927

Subject: Financial Aid Audits and Program Reviews


Audits and Program Reviews

Federal regulations require the Financial Aid Office to have its records and student files audited annually.  Each audit must cover the time period since the last audit.  An independent auditing firm audits Amberton University annually.  The auditing firm reviews a sample of student files to ensure the Financial Aid Office is in compliance with federal, state, and institutional policies.  Any exceptions found during the audit will be addressed.  The auditing firm then submits findings to the University for review and after that review, the auditing firm then submits the findings to the U.S. Department of Education.


Federal reviews are conducted by the U.S. Department of Education on a basis determined by the Department.  Institutions are notified ahead of time when the review will take place.  Typically, the reviewers will randomly select a specific number of students from each of the Title IV programs.  The files are pulled and given to the reviewers.  Any additional assistance requested must be responded to promptly.  A complete listing of financial aid audit guidelines can be found in the Audit Guide published by the U.S. Department of Education.  See this reference document for more information.