Audit

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 …

An often-volatile economy, changing demographics, and technological innovations in educational delivery are among the dramatic changes across higher education that have forced boards and institutions to question the viability of the existing business model. Flat or declining state support in …

Changes in higher education require input and support from leaders across the campus—especially the board, the president, and the faculty. In American colleges and universities, this collaboration is known as shared governance. In order to engage effectively in shared governance …

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 …

Get all of the bestselling Effective Committee Series in one set! The Academic Affairs Committee The Audit Committee The Facilities Committee The Governance Committee (Independent Institutions) The Compensation Committee The Development Committee The Executive Committee The Finance Committee The Investment Committee The Student Affairs Committee The Governance Committee (Public Institutions) is …

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 …

The audit committee serves as the guardian of an institution's most valuable asset: its reputation. As colleges and universities have become subject to intense scrutiny, the result is a new institutional focus on accountability, transparency, and enterprise risk management, as …

TAKEAWAYS Board members must ensure that the institution treats risk as inevitable. The key is to anticipate and respond rationally to the most serious exposures that could compromise the ability of the enterprise to function. Keep in mind that financial …

Wednesday, January 17, 2007 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 …