myrna,
The only way to solve this dilemma is have each person's job description documented and work-flowed. This will ensure that you have a document that clears outlines responsibilities and the ensures nothing gets dropped.
Sincerely, Chyrl
Chyrl Ayers
Congratulations -- what an awesome way to feel regarding any upcoming audit! My last team passed their FA audit with a 100% pass rate, no findings whatsoever! The Finance Officers were ecstatic and the praises they received from the entire Team were well-deserved and very rewarding. The audit was the culmination, and recognition, of a full-year's work with day-to-day attention to detail.
I think our biggest concern in dealing with auditors is making sure that everything in the student files are current, accurate and that things that need to be in the file are there. One of my frustrations is that we have everything on paper and we are slowly moving to electronic copies. Some of the files we have are bigger than most school books I have seen! What is really helpful in making sure everything is there is having a list of selected students ahead of time so that we can comb through the files and print things that needed to be printed or take out multiple copies of the same thing. We do work well as a team and utilize checklists to ensure that everything is put together and well organized for the auditors.
I have the same concerns as Virgina and we utilize pretty much the same methods to help prepare for the auditors. I do like your point Cheryl with another FA professional reviewing each others work because we do practice that habitually here from the first day a student enrolls. If you are the one who has worked the file initially, you may not catch the mistakes that another may see. That cross-reference is really helpful and is in turn a great training or learning curve for the FAO who initially completed the file!
Over the years I have learned to make a list and "check it twice " and then check it again thru out the year. Everyone is nervous when the auditors come but this helps keep the tension down.
Margaret, A periodic review to determine document and work accuracy and compliance makes for a clean audit experience. Inspect what you expect and you should never be disappointed.
Regards,
David McGuffee
My biggest concern with auditors coming is ensuring our records are accurate and organized. Accurate records are only useful if the information is organized for someone outside the normal office to understand it as well.
Jennifer,
Your point is excellent. A student's file may contain all of the accurate documents but mess/disorganized files may slow down or prevent a timely and accurate review of the students file. Maintaining your files electronically or in paper format in a manner that is uniformed makes for a more efficient audit.
Sincerely, Chyrl
Chyrl Ayers
My greatest concern would be keeping all files organized and ready for any questions and concerns the auditors may have. In keeping my self organized I would just keep all files up to date and make sure all information is accurate at least once a week.
Nathaly ,
I think it is a good procedures to check the files and perform mini-reviews throughout the year to ensure compliance with requirements from document collection to accuracy of the documents. You have to inspect what you expect and if you follow this rule you should not be surprised during any type of review. It is critical to know the condition of your students' files.
Sincerely, Chyrl
Chyrl Ayers
Honestly you should have no concerns when it comes to audit time, because if you do things right and with accuracy you can't go wrong. I strongly agree with constant internal audit and few different eyes reviewing the same file can only be beneficial. Stay organized is my motto.
Thanks,
Lazara Tapia
Lazara,
Your motto is a great one and I am sure your auditors appreciate the effort. Prevention is the key to success - start with organized and well documented files with periodically checks and all audits should be successful.
Sincerely, Chyrl
Chyrl Ayers
We really don't have a problem with the auditors because we keep highly detailed records. The worst part about the auditors is getting all the required information gathered and sorted properly.
Gary,
It is important to have documented records for your auditors and the fact that you go above and beyond is excellent. There is a great deal of information and records required during an audit. The best you can hope for is timely notification of requirements to allow sufficient time for pulling of information.
Sincerely, Chyrl
Chyrl Ayers
The auditors coming is like the final exam. Even though we have clean audits and are prepared, I'm always anxious just because the audits are so important.
We have standardized forms and checksheets for everything. This helps to ensure all processes are completed correctly and files are organized. Everytime I pull a file, I go through to make sure everything is organized. Keeping records organized and in a specific order makes it easier to recognize if something is out of place or missing. The organization helps me to have confidence whenever it is time for an audit.
Nicholas,
I think your approach is excellent and definitely ensures confidence in your files. It is important to periodically inspect your files to ensure all documents are collected and accurately completed. Taking the time to be organized will really pay off during the audit cycle.
Sincerely, Chyrl
Chyrl Ayers
I think the greatest concern is the desire to come out with a successful audit. This takes the implementation of SOPs and executing them to ensure compliance and accuracy. ongoing training should occur often with staff and conducting internal mock audits also help keep us on our toes. If you check the checker and inspect what you expect, it should help alleviate some of the concerns of going through the audits and should also help these audits be successful ones.
Monique ,
To avoid fear of the unknown such as an audit I think it is important to inspect what you expect. If you expect quality within your files and processes you have to test these throughout the year not just at audit time. I encourage all of my colleagues to periodically test their file and record keeping processes to ensure compliance.
Sincerely Chyrl
Chyrl Ayers
My biggest concern is making sure all documents are in the file. We also use a checklist to ensure that all required docs are in the students file.
Frances,
A checklist may be a valuable tool to ensure compliance with all documents; however, it is important that your team (or possible your servicer) does some additional review. Possible once a quarter select a sample and QC for accuracy of the documents and data to validate accurate awarding, disbursing and return of funds in the case of withdrawn students. It is important to take a look at the total process not just the collection of documents.
Sincerely, Chyrl
Chyrl Ayers
