A Need For 'Checks and Balances' Revealed
NASFAA partners with Dr. Stephen Collins to fill vital gap in auditor training
Washington, D.C. (March 25, 2002) - Would you hire a lawyer who didn't go to law school? Or a doctor who didn't go to medical school? Definitely not. Yet many colleges and universities routinely hire auditors who have no training on the Title IV financial aid programs. Auditors must understand the nuances of the financial aid programs and how technology is used in the financial aid office in order to conduct effective and accurate audits. Yet many auditors do not receive adequate training and often arrive at the financial aid office unprepared. "The auditors are not trained very well at all," said Nancy Hoover, Director of Financial Aid at Denison University in Granville, Ohio. "We spend too much time going over the basics of financial aid. The manuals that the auditors use do not seem to be updated frequently and we have to remind them that certain regulations are no longer applicable."
Dr. William A. Irwin, Director of Student Financial Aid at Lock Haven University of Pennsylvania, said, "Often they are relatively 'new' auditors and have very limited knowledge of financial aid. I spend a lot of time explaining the programs, the requirements, and acceptable variances to them. They should be better prepared before they get here." Laurie Neil, Director of Student Financial Aid at Central Oregon Community College, noted, "My concern is, if we are teaching relatively new auditors what to look for, how can they help us? They sure aren't going to uncover any fine points if we are just teaching them the basics."
To address this growing concern of financial aid administrators across the country, the National Association of Student Financial Aid Administrators (NASFAA) has partnered with Dr. Stephen Collins of Student Financial Aid Audit Seminars. Since 1982, Collins has taught Audits of Federal Student Financial Aid Programs, a two-day CPE seminar for auditors that provides a review of key regulatory topics and procedural requirements. "I am excited about my relationship with NASFAA," said Collins. "They are the financial aid experts who know what it takes to administer the programs properly. Together, we can expand the information that we make available to our participants and train many more auditors in the process."
The expanded program is three days long and includes a full day on Auditing Electronic Financial Aid Systems. Seminar locations and dates include:
- Chicago, May 13-15
- Atlanta, May 20-22
- Kansas City, MO, Oct. 14-16
The cost to attend all three days is $825 and is recommended for 24 CPE credits (8 CPE credits per day). For more information, including daily rates, discounts, and hotel information visit www.NASFAA.org/auditors.asp or contact Judy Schneider at 202-785-0453 ext.144 or schneiderj@nasfaa.org.
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