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Federal Auditing Information Service (FAIS)

Federal Auditing Information Service (FAIS) for Higher Eduction provides timely, authoritative information to help you prepare for and manage audits mandated by the federal government. Beginning June 1, 2015 all NACUBO members will have access to this premier resource.

The higher education community has always been vitally concerned with accuracy and accountability in financial reporting. But today's pressures on auditors - and in fact everyone involved in the auditing process - are more intense than ever and come from every direction possible, including the Office of Inspector General (OIG), the media, the GAO, Congress, community and political leaders, and accounting and consulting firms themselves, to name a few.

Your online FAIS subscription includes:

  • Campus wide access to subscriber-only web site
  • Electronic newsletter notifying subscribers of updates
  • Searchable information
  • Hyperlinked index
  • Sixteen chapters including:
    • Subscription Single Audits: Background and History
    • The A-133 Audit Requirements
    • Auditee Responsibilities
    • The Federal Role
    • Roles and Responsibilities of Pass-Through Entities
    • The Role of the Auditor
    • The Single Audit Report
    • Selecting and Engaging an Auditor
    • Preparing for and Managing an A-133 Audit
    • The Fourteen Compliance Requirements
    • Detailed Guidance on Auditing Direct and Indirect Costs
    • Avoiding Potential Problems with Subrecipients and Subcontractors
    • Resolving Post-Audit Disputes
    • Inspector General Audits
    • Preparing for and Managing an IRS Audit
    • Guidance on Common Issues in IRS Audits of Colleges and Universities

How to Order

To purchase this product with a credit card you can order online.



FAIS Online Interface

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Subscription Service (NC4071)

Member price: $0
Non-member price: $400


Access is just a click away

  • Check if your institution has a current subscription by visiting My NACUBO on the NACUBO website.
  • FAIS is listed under the Online Subscriptions/Downloads Section, click to access
  • Make sure you click on the “What’s New” section to ensure that you are up on the latest happenings in the accounting area.