Compliance Certification Report
| 3.10.3 | The institution audits financial aid programs as required by federal and state regulations. | ||||||||||||||||||
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[Compliance] |
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Narrative: |
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| The University of Alabama in Huntsville (UAH) is in compliance with Principle 3.10.3 because all audits of financial aid programs required by federal and state regulations have been conducted. The Board of Trustees of The University of Alabama (UA) System contracts with an accounting firm to conduct annual audits of all system institutions, including an audit of federal financial aid programs in accordance with the Office of Management and Budget (OMB) Circular A-133. PricewaterhouseCoopers (PwC) conducted the annual audits for all UA System institutions prior to FY03; Klynveld Peat Marwick Goerdeler (KPMG) LLP conducted the audits for FY03 and FY04. PwC will conduct the FY05 audit. The OMB Circular A-133 compliance audits (2003 and 2004) have consistently shown no material findings related to compliance with applicable regulations. All non-material notations are addressed promptly with corrective action plans and followed up routinely. In addition, there have been no repeat notations of non-material items from year to year, as appropriate corrective actions are implemented to resolve any audit issues. The UA System Office of Internal Audit (Internal Audit) also conducts periodic internal audits of control procedures as well as institutional programs that are subject to federal or state compliance regulations. The most recent such audit of the financial aid office, dated June 2003, reported minimal findings, all of which were addressed by the Director of Student Financial Services. Corrective actions were implemented in accordance with recommendations from the Internal Audit. |
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