Audit of University of Louisiana at Lafayette reveals several areas of concern
LAFAYETTE - A recent audit of the University of Louisiana at Lafayette (UL Lafayette) revealed several concerning blunders in relation to the university's organizational procedures and financial record-keeping.
According to the Louisiana Legislative Auditor, for the second consecutive year, UL Lafayette failed to terminate access to the electronic administrative system in a timely manner for employees who no longer worked for the university.
The audit also revealed that the university did not have adequate controls in place to ensure returns of Title IV funds were accurately calculated and sent to the U.S. Department of Education.
In addition to this, UL Lafayette failed to report changes in enrollment status to the National Student Loan Data System for students who received Student Financial Aid funds and unofficially withdrew from the university or had a change in enrollment status because they registered for classes but never attended.
Auditors say they also discovered that the university did not have a formal documented risk assessment or related safeguards to address the minimum requirements of the Gramm-Leach-Bliley Act standards for safeguarding student information.
The analysis did, however, reveal one area of improvement. The audit indicated that a prior-year finding related to failure to report misappropriations was resolved.
Click here to view the auditor's full report.
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