Audit Objectives and Control Testing Obtain an understanding of internal control, assess risk, and test internal control as required by and using the guidance provided in the following: of the OMB Compliance Supplement, Internal Control 2013 COSO () GAO’s 2014 Green Book (). Consider the results of the testing of internal control in assessing the remaining risk of noncompliance. Use this as the basis for determining the nature, timing, and extent (e.g., number of transactions to be selected) of substantive tests of compliance. For further AOS guidance on testing federal controls see . (Source: 2016 OMB Supplement 3.2) Determine whether educational programs that are contracted out to ineligible institutions, consortiums, or organizations to provide educational programs to its students do not exceed regulatory limits. (Source: 2016 OMB Compliance Supplement, Part 5, Cluster of Programs, Student Financial Assistance Programs) What Control Procedures Address the Compliance Requirement (reference/link to documentation or where the testing was performed): Basis for the control (reports, resources, etc. providing information needed to understand requirements and prevent or identify and correct errors): Control Procedure (description of how auditee uses the to prevent, or identify and correct or “Basis” detect errors): Person(s) responsible for performing the control procedure (title): Description of evidence documenting the control was applied (i.e. sampling unit):
Audit Objectives and Control Testing Obtain an understanding of internal control, assess risk, and test internal control as required by and using the guidance provided in the following: of the OMB Compliance Supplement, Internal Control 2013 COSO () GAO’s 2014 Green Book (). Consider the results of the testing of internal control in assessing the remaining risk of noncompliance. Use this as the basis for determining the nature, timing, and extent (e.g., number of transactions to be selected) of substantive tests of compliance. For further AOS guidance on testing federal controls see . (Source: 2016 OMB Supplement 3.2) Determine whether educational programs that are contracted out to ineligible institutions, consortiums, or organizations to provide educational programs to its students do not exceed regulatory limits. (Source: 2016 OMB Compliance Supplement, Part 5, Cluster of Programs, Student Financial Assistance Programs) What Control Procedures Address the Compliance Requirement (reference/link to documentation or where the testing was performed): Basis for the control (reports, resources, etc. providing information needed to understand requirements and prevent or identify and correct errors): Control Procedure (description of how auditee uses the “Basis” to prevent, or identify and correct or detect errors): Person(s) responsible for performing the control procedure (title): Description of evidence documenting the control was applied (i.e. sampling unit):
UG_FACCR_SFA_Cluster_2016_Aug2016.docx