Third-Party Servicers Audits/Attestations

The Department of Education issued an update to Requirements and Responsibilities for Third-Party Servicers (TPS) and Institutions (GEN-23-03) on February 16, 2023. The Department is aware that a large and growing industry has developed to provide one or more of these services as a means of transitioning academic programs into a distance education environment and expanding enrollment. Companies providing such services are sometimes referred to as “online program managers” or OPMs. As such, the institutions that contract with these entities are subject to reporting requirements with respect to the entities, and the entities themselves are subject to annual non-federal audits of the Title IV-relevant functions they perform, if such functions are covered by the audit guide.

DALCPA has been providing TPS Attestations / Audits for over 20 years for submission to the US Department of Education. With the rapidly changing regulatory environment, we would be happy to discuss with you your TPS needs.

Cohort Default Rate

Consulting

Every year the United States Department of Education released new cohort default rates for every school receiving Title IV Funds in the country. If these rates are too high, the school risks losing Title IV eligibility unless they submit a successful appeal.

DALCPA offers both financial and compliance consulting services to NON audit clients only. These services help streamline your audit process and ideally result in fewer compliance findings. ​

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Interim Reporting

Accrediting agencies sometimes require schools to submit quarterly or monthly reporting to demonstrate financial responsibility. Often times these reports must be prepared by an independent CPA. DALPA works with many accrediting bodies and is familiar with these interim reporting requirements.