Audit Reports

All institutions who participate in the Federal Student Assistance Programs must complete and submit an annual compliance and financial audit to the U.S. Department of Education. This audit must be done by a CPA following certain guidelines. Therefore, every year the institution must submit to its auditor a packet of documents that the auditor needs to complete the compliance and financial audit. FAS specifically relieves the institution of the long task of gathering most of the needed data and reconciled reports to submit to the auditor as a packet. FAS makes the process painless by using electronic means to submit these reports thus creating an easier time for the auditor who must use electronic means to submit to the Department of Education.

Many clients have commented that it relieves much anxiety to have this handled by FAS.

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