"FSA reviews schools' eligibility, financial statements, and deficient audits and program reviews as part of a Comprehensive Compliance Review (CCR). In FY 2010, FSA conducted 2,923 CCRs. These CCRs were performed on schools that constituted 46 percent of participating schools and accounted for 47.5 percent of total Title IV funding. Liabilities were identified where audit or program review findings revealed non-compliance. . . . Approximately 22 percent of these audits resulted in findings."
~Department of Education
The Program Compliance Office hired 50 Institutional Review Specialist to perform CCRs in 2010 and The Kenaly Complement is seeing a significant increase in the number of Comprehensive Compliance Reviews (Program Reviews) being conducted.
The Kenaly Complement can help you prepare for program reviews and audits. We perform a "pre-review" which provides an opportunity for schools to not only correct issues but to be better prepared for the Department of Education's visit.
The Kenaly Complement also assists schools with responses to the Department of Education's findings. If a school is cited for fraud or other serious program abuses in a program review or audit, the school may be subject to "corrective action and/or sanctions, such as fines, emergency action, or limitation, suspension, or termination." Program reviews sometimes result in schools being placed on Heightened Cash Monitoring.