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SFA Audits - Specific Guidance

A. SFA Programs Included in A-133 Single Audits

1. Instructions for obtaining borrower disbursement information for the Direct Loan Program in A133 or SFA Audits Microsoft Word [33] or PDF [8]
2. SFA Cluster included in March 2001 OMB Compliance Supplement Microsoft Word or PDF
3. SFA Cluster included in March 2002 OMB Compliance Supplement Microsoft Word or PDF
4. SFA Cluster included in March 2003 OMB Compliance Supplement Microsoft Word or PDF
5. SFA Cluster included in March 2004 OMB Compliance Supplement Microsoft Word or PDF
6. SFA Cluster included in March 2005 OMB Compliance Supplement Update
7. SFA Cluster included in March 2006 OMB Compliance Supplement Microsoft Word or PDF
8. SFA Cluster included in March 2007 OMB Compliance Supplement Microsoft Word or PDF

B. School/School Servicer Audits

1. Dear Colleague Letters - Main Index
2. Dear Colleague Letter GEN-00-08 Requesting a waiver of the annual submission requirements - Institution Audits
3. ED/OIG Dear CPA Letter (CPA-99-01) on the calculation of 85/15 Revenue Tests Microsoft Word [31] or PDF [16]
4. ED/OIG Dear CPA Letter (CPA-99-02) on the calculation of 90/10 Revenue Tests PDF [339]
5. Federal SFA Handbook (Excellent Resource for Assistance on SFA Audits)
6. Interest Rates to use in the calculaton of late refunds for Direct Loans, PELL, and SEOG funds
7. OIG Letter to CPAs - Problems with SFA Audits
9. Notice to Audit Practitioners Concerning Effective Date of School/Servicer Audit Guide (2000) Word [38] or PDF [18]
10. Procedures for Liquidating Perkins Loan Program (7/98)
11. Q & As on SFA Audits with No Audit Findings Wordperfect 5.2 [6]or PDF [7]
12. Sample Management Representation Letter - SFA Audits Word or PDF
13. School/Servicer Audit Guide (1997) (Complete Document) Wordperfect (5.2) [406] or PDF [315]
14. School/Servicer Audit Guide (1997) (Pen/Ink Changes & Revised Pages Only) Wordperfect 5.2 [155] or PDF [154]
15. School/Servicer Audit Guide (2000) PDF [470]
15a. Dear CPA Letter No. 07-01 (Issued August 2007) – Amendment to School/Servicer Audit Guide to cover Academic Competitiveness Grants (AGC) and National Science and Mathematics Access to Retain Talent (SMART) Grants Word [216] or PDF [158]
15b. Dear CPA Letter No. 07-03 (issued September 2007) - Amendment to January 2000 Audit Guide, Audits of Federal Student Financial Assistance Programs at Participating Institutions and Institution Servicers – Prohibited Inducements Paid by Lenders and Denying Students’ Access to Lenders and Guaranty Agencies of Their Choice. Word [208K] or PDF [112K]
16. Summary of Changes to School/Servicer Audit Guide (2000) [Last Updated September 27, 2007] Word [34] or PDF [14]
17. Template for Preparing Example E, Schedules A,B,C (SFA Audit Guide) Word [133], Wordperfect [120K] or PDF [31K]
18. Foreign School Audit Guide (2002) (Word [605K], (PDF [406K], or Amendment No. 1 to Foreign School Audit Guide (8/2003) PDF [683K] - Amendment No. 2 (8/30/2006): Word [90K], PDF [180K]

C. Lenders/Lender Servicer Audits

1. Dear Colleague Letters - Lenders
2. Due Diligence Fraud Indicators At Lenders/Servicers Wordperfect (5.2) [16] or PDF [11]
3. Exceptional Performance Status For FFELP At Participating Lenders and Lender Servicers Audit Guide(August 2003 Edition). PDF [660] - Amendment No. 1 (8/30/2006): Word [86K], PDF [133K]
5. Information for Lender's on ED's Web page
6. Lender/Servicer Audit Guide Wordperfect (5.2) [367] or PDF [304] - Amendment No. 1 (8/30/2006): Word [92K], PDF [229K]

6b. Dear CPA Letter No. 07-02 (issued September 2007) - Amendment to December 1996 Audit Guide, Compliance Audits (Attestation Engagements) for Lenders and Lender Servicers Participating in the Federal Family Education Loan Program (Lender Audit Guide) – Prohibited Inducements Paid by Lenders to Postsecondary Institutions or Other Parties. Word [205K] or PDF [112K]
7. Permament Extension of Lender Audit Requirements - Reauthorization of HEA (Oct 98)
8. Summary of Changes to Lender/Servicer Audit Guide (1996) [Updated September 27, 2007] Word [14] or PDF [9]
9. Q&As on Lender/Servicer Compliance Audit Guide Wordperfect 5.2 [25] or PDF [27]
10. Auditor's Guide: For audits to ensure the accuracy of certain Federal Family Education Loan Program special allowance payments (April 2007).   PDF    Bond Spreadsheet: MSExcel    Small Lenders Bond Spreadsheet: MSExcel

D. Guaranty Agencies/Servicer Audits

1. Dear Colleague Letters - Guaranty Agencies
2. Directory of State Guaranty Agencies
3. Guaranty Agency Servicer Audit Guide (2000) Wordperfect [390]or PDF [232] - Amendment No. 1 (8/30/2006): Word [68K], PDF [201K]
4. Summary of Corrections (Last Update 4/14/00) to Guaranty Agency Servicer Audit Guide (2000) Word [19]or PDF [2]
5. State Higher Education Agencies

E. General Guidance

1. SFA Program Regulations.
2. Dear Colleague Letters - All Distributions
3. Direct Loans Web Site
4. Direct Loan Schools Portal
5. ED's Office of Postsecondary Education Home Page
6. Financial Aid Information Home Page
7. Information for Financial Aid Professionals (From ED/OSFA)
8. National Association of University and Business Officials (NACUBO Web Site)
9. National Association of Student Financial Aid Administrators (NASFAA Web Site)
10. SFA Publication Listing
11. SFA Customer Support - Info on How to Contact (Q&As, etc.)