Public awareness of how quickly financial wrongdoing and a lack of effective controls can devastate some of America's largest and most well-known companies is at its peak. The Sarbanes-Oxley Act of 2002 (Sarbanes), was essentially a formal response to major corporate and accounting scandals. Although Sarbanes applies to companies that register securities with the Securities and Exchange Commission (SEC), NACUBO believes that college and university business officers should regard Sarbanes as an opportunity to further the business officer's defining core objectives, namely, the enhancement of institutional accountability and responsibility.
- How Should Higher Education Respond To Sarbanes-Oxley?NACUBO Advisory Report 2003-3, The Sarbanes-Oxley Act of 2002: Recommendations for Higher Education suggests measures that colleges might adopt voluntarily to address accountability and governance issues raised by the Act. While it does not apply to public entities or nonprofits, many of the issues the Act addresses are universal.
- Analyze your institution's response to accountability and governance - Advisory Checklist Tool - Page six of the Advisory Report begins a checklist of relevant titles and sections of the Act with corresponding best practices for higher education. Because institutions may want to evaluate current practice along side advisory guidance, the checklist is available in MS Word.
Business Officer Magazine Articles
- Finances in the Clear(July/August 2008)
- The Substance Of Transparency: The Sarbanes-Oxley Act (February 2003)
- Tuition Increases Slow, While Student Loan Borrowing Declines, College Board Reports
- IRS Response to NACUBO on 1098-T Penalties Offers No Relief
- IRS Publishes Final Rules on Overpayments of Arbitrage Rebate on Tax-Exempt Bonds
- 2015 Intermediate Accounting and Reporting - Winter
January 22-23, 2015
- 2015 Endowment and Debt Management Forum
February 4-6, 2015
- 2015 Unrelated Business Income Tax
February 25-27, 2015
- ON-DEMAND: How to Build, Develop, and Support a Compliance Program at Your Institution
- ON-DEMAND: Strategic Tuition Assessment and Tuition Restructuring
- ON-DEMAND: Are Shared Services Right for Your Organization – The KU Journey
- ON-DEMAND: VIRTUAL: 2014 Annual Meeting
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting Forum
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis