A basic requirement for continuing participation in the Title IV programs is an annual independent audit of the institution’s operations. Audit requirements run throughout the regulations, and are a major tool for the Department of Education’s oversight activities.
See also top list entry for Financial Responsibility of Institutions
Auditor gives adverse, qualified, or disclaimed opinion, or expresses doubt about status as a going concern
Standards for Audit of Governmental Organizations, Programs, Activities, and Functions (GAO)—Appendix I
Substantiation of completion and placement rates used to qualify short programs as Title IV-eligible