On March 31, 2021, the U.S. Department of Education's Office of Inspector General published its "Guide for Compliance Attestation Engagements of Proprietary Schools Expending Higher Education Emergency Relief Act Funds" (the "Guide"). The Guide details the grant program auditing requirements for proprietary institutions, including which institutions must obtain an audit, what must be audited, and when the audit must be submitted.
We understand that many of the compliance requirements found in the Guide, particularly the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards found at 2 C.F.R. §200, are unfamiliar to many proprietary institutions. To help provide clarity on these requirements, Scott Goldschmidt and Jayna Rust collaborated with Mike Wherry and Ted Blendermann on the following article and webinar organized and hosted by McClintock & Associates:
HEERF Audit Guide for Proprietary Institutions: Key Takeaways
The Proprietary Institution HEERF Audit Guide: Webinar recording and PowerPoint slides
For inquiries regarding the HEERF compliance or audits, institutions are welcome to contact Scott Goldschmidt at sgoldschmidt@thompsoncoburn.com or Jayna Rust at jrust@thompsoncoburn.com from Thompson Coburn, or Mike Wherry at mwherry@mcclintockcpa.com or Ted Blendermann at tblendermann@mcclintockcpa.com from McClintock & Associates.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
