eZ-Audit System Back Online by Mid-March

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March 10, 2004

The Department of Education has been working with NACUBO, accounting firms, and others on revisions to eZ-Audit system templates and instructions. ED is in the final days of system readiness; NACUBO urges both independent and public institutions to look for final confirmation via Information for Financial Aid Professionals (IFAP) electronic announcements.

NACUBO has been very involved with ED on the eZ-Audit process, since a considerable portion of eZ-Audit information comes from a combination of an institution’s audited financial statements and notes to the financial statements. eZ-Audit templates and questions require an understanding of accounting and disclosure requirements, so NACUBO recommends that an institution's business office partner with its financial aid office for eZ-Audit submission.

ED is also providing registration and submission instructions, frequently asked questions and common submission errors on the IFAP Web site.

For more information, contact Sue Menditto, senior manager, accounting and finance programs at NACUBO, 202.861.2542.