Insight
Drawing on insights from our work and interactions with higher education audit committees and senior executives, we have highlighted several areas that audit committees should keep in mind as they consider and carry out their 2020 agendas.
Prioritizing a heavy audit committee agenda is never easy, and 2020 will be particularly challenging. The audit committee is operating against a backdrop of changing student demand, demographics, and expectations; digitization and disruption; and greater regulatory complexity and scrutiny. Five topics audit committees should keep in mind, include:
- Maintain (or regain) control the committee's agenda
- Sharpen focus on the institution's culture, ethics, and compliance programs
- Understanding recent changes to federal Financial Responsibility Standards
- Continue focus on cybersecurity
- Modernize and strengthen the back office
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