Audit

The higher education landscape continues to experience change at an accelerated rate. To remain relevant, competitive, and financially sustainable, leaders at Minnesota State Colleges and Universities (Minnesota State)—the nation’s third largest system of colleges and universities—recognized a need for the …

Risk management and compliance are two of the core operational functions of colleges and universities that intersect the most with the law. Even more so than compliance, which at some institutions is part of or reports to the legal department, risk …

In addition to support for the institutional mission, commitment to academic excellence, good governance, financial stability, student well-being, and attention to risk management, compliance is one of the fundamental fiduciary responsibilities of board members and senior leadership. As with other …

Saturday, August 1, 2015 The below is excerpted from the preface; download the full statement. Governance of American colleges and universities is at a crossroads. The governing bodies of these institutions face critical challenges to methods of operation and oversight that have …

Internal audit departments can be major contributors to the effectiveness of governance, risk management, and internal control processes, but they need to focus on the areas of highest risk, perform their services effectively, and clearly communicate the results of their …

The below is excerpted from the introduction; download the full statement. Although the precise point at which a college or university governing board may justifiably be called “accountable” is elusive, the issue of board accountability warrants attention. Certain elements of board accountability—observing the …

Government regulation reaches deep into every sector of the economy, and colleges and universities are no exception, as the cover story in this Trusteeship makes clear. Higher education has been described by Federal Court of Appeals Judge Richard Posner, a …

Asking the right questions is an important part of fulfilling a board’s fiduciary responsibilities, and boards need to get in the habit of asking those questions about risk. Whether it’s establishing a relationship with a university in another country for …

The stately collegiate Gothic buildings that define the iconic West Campus at Duke University evoke a strong sense of stability and the status quo. But like all institutions of higher learning, Duke faces many potential challenges to campus equilibrium—some of …

To the list of challenging regulatory issues likely to arise on your campus, add this relatively new one: protecting the statutory rights of employees who go public with accusations of malfeasance. A generation ago, American employers brooked no insubordination from so-called …