Compliance concern
The use of proper procedures,minimize compliance concerns
It is true. If we comply with the procedures we minimize compliances. And if any error is found we can fix it based on the rules.
Thamee,
This is a good practice. We are all human and can miss something so it is good to "inspect" the student files to insure compliance.
Sincerely, Chyrl
All procedures performed in an adequate and correct the error minimized.
Nydia,
Documented procedures and processes will keep compliance errors to a minimum. Also, training sessions with the staff to insure they are comfortable with any upcoming regulatory changes. As we approach the 2011/2012 award year it is important to insure that all upcoming changes or disclosures are documented and available to your students. As long as you have a process in place to insure 100% compliance you should be successful in handling the needs of your students.
Sincerely Chyrl
It is all about being careful and making sure that each procedure is conducted with accuracy. Sometimes, rushing can increase mistakes.
Elba,
Handlign each student's financial information and documentation is critical to the success of the process; however, it is necessary to have some controls and checks in place to insure accuracy or corrections when necessary. Do you have these in place? If so, this should provide you an additional level of control to prevent compliance concerns.
Sincerely,
Chyrl
