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Business and Policy Areas
Business and Policy Areas
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Proposed Audit Requirement Delayed Until 2018

April 28, 2017

NACUBO recently reminded colleges and universities of their compliance requirements under the Safeguards Rule of the Gramm-Leach-Bliley Act (GLBA). This compliance reminder came following an indication from the Office of Management and Budget (OMB) that the Department of Education intended to include a new FY17 audit provision designed to assess campus compliance with the rule.

NACUBO, along with EDUCAUSE, the Council on Governmental Relations (COGR), and the National Association of Student Financial Aid Administrators (NASFAA), submitted comments to OMB outlining numerous reasons why it would be difficult for both institutions and auditors to handle the inclusion of such an objective on short notice, and requested delay of the objective’s implementation until FY18.

NACUBO has received word from OMB that our advocacy efforts were successful and the objective’s implementation will be delayed until FY18 audits.

NACUBO encourages members to visit its GLBA Resources page for compliance tools and further background information.

Contact

Megan Schneider
Assistant Director, Federal Affairs
202.861.2547
E-mail