Audits can be really helpful and rewarding
Audits can give you a better understanding of where you are and what things you need to work on.
Afton,
Agree. I always try to look for the positive aspects of an audit. It is an opportunity to confirm what you are doing correctly, learn more and strengthen internal polices and procedures. An open attitude can be very beneficial during the audit process.
Sincerely,
Chyrl Ayers
Afton, This is a very true statement. Audits have been a beneficial time for learning new ways to increase inter-office accuracy and remind us all we are stewards of the Department of Education and tax payers.
Audits are beneficial a learning tool. The outcome should be reflected in future business practices.
Chrystie,
Agree. It is important to learn from audits and strengthen internal policies and procedures.
Sincerely,
Chyrl Ayers
Thanks for the tips. I am about to have my first Audit and I am on pins and needles. I am approaching it with an open attitude, wish me luck!!
Sharecia,
I completely understand being apprehensive as you approach your first audit. I would recommend that you have your sample selection and all fiscal records organized and prepared for the auditors. Also, auditors are human and may misunderstand a requirement so if you disagree with a finding that is acceptable and just disagree in a professional manner. If you disagree ask for their regulatory referenece, research and then present your opinion based on your research.
Good Luck and I would be interested in hearing from you at the conclusion of the review. Best wishes in your continued financial aid career - it is an exciting and rewarding professional undertaking.
Sincerely, Chyrl
Of course it can be very scary, but as long as you are doing your job to your knowledge then thins will be fine. You can learn for audit finding and can be very helpful and a new training tool. Remember we are always going to be in a learn cover especially in schools and regulation changes that may happen.
Bernadette,
Your points are very good. Audits do have the ability to make one nervous; however, the important part is to learn and grow from the experience. Auditors should be working toward ensure the institution processes TIV Funding accurately to guarantee a quality student experience.
Sincerely,
Chyrl Ayers
I strongly believe in strengthening internal policies and procedures. Internal audits should be done periodically. Having someone from your own organization audit is a healthy way of compliance and also helps in training the "nerves" of an actual audit. It gives confidence and projects that you're well trained at your job. Thank you for all these forums, they're very informative!
Agree It is good to know what all an audit is require. To know that we have a standard to up hold.
Lovevonia, Audits, whether internal or from an outside firm, can be helpful in a number of ways. It allows you to see how good or how bad your internal policies and procedures are put together and how each member of your team has reacted to their own responsibilities during your day-to-day operation. Best of luck.
David McGuffee
