ED to Improve eZ-Audit
September 25, 2003
In response to meetings with representatives of auditing firms and NACUBO staff, the Department of Education is improving its instructions for online submission of audit information for nonprofit institutions, and establishing a focus group to recommend changes. In the September 15 announcement, ED also noted that changes are needed in some of the input screens but did not set a date by which the changes would be made. In the meantime, the instructions will provide definitions and explain how data should be inserted in existing screens.
ED also promised to send future communications about eZ-Audit to the business office as well as the financial aid office. ED acknowledged that staff with financial reporting expertise should be responsible for entering data from the institution’s financial statements to eZ-Audit.
NACUBO staff as well as experienced higher education auditors from KPMG LLP and PricewaterhouseCoopers met with ED personnel and contractors this summer to share concerns about imprecise terminology and confusing instructions in the forms set up in eZ-Audit for nonprofit institutions. While NACUBO objected last spring to the imposition of the new requirements for electronic submission of audit information, the association filed comments with ED in August, making several suggestions for improving the implementation of eZ-Audit.
Representatives from NACUBO and the auditing firms will participate in the focus group that ED is setting up. Others interested in attending the group’s meeting in Washington, D.C. November 12 or 13 should notify ED at firstname.lastname@example.org or 1-877-263-0780.
The NACUBO contact for eZ-Audit issues is Sue Menditto. She can be reached at email@example.com or 202-861-2542.
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