Month: July 2017

ED’s New Audit Guide Mandates Greater Scrutiny of Compensation Practices under the “Incentive Compensation” Rule

Greg Ferenbach and Blain Butner

The second post of our Audit Guide series focuses on the incentive compensation rule. The new Audit Guide requirements significantly expand the review required by auditors to assure compliance with the incentive compensation rule.

New ED Audit Guide Means Compliance Audits Will Be More Expansive, More Expensive

Blain Butner and Rebecca Flake

The new Audit Guide for Title IV compliance audits includes numerous, expanded requirements for accounting firms to use in conducting required annual audits. The Audit Guide applies to Title IV compliance audits for fiscal years ending June 30, 2017 or later for for-profit higher education institutions and for third-party servicers that administer any aspect of the Title IV programs on behalf of any postsecondary institutions.

Department Holds Hearings and Comment Period on Neg Reg Agenda

Vince Sampson and Nancy Anderson

The Department of Education holds hearing to hear comments regarding the agenda for the upcoming negotiated rulemaking.