Finding 369424 (2023-003)

Material Weakness
Requirement
N
Questioned Costs
-
Year
2023
Accepted
2024-02-15
Audit: 290607
Organization: Newberry College (SC)
Auditor: Capincrouse LLP

AI Summary

  • Core Issue: The College is not fully compliant with the updated requirements of the Gramm-Leach-Bliley Act (GLBA), risking student information security.
  • Impacted Requirements: Key areas lacking include security risk assessments, multi-factor authentication, vendor management, incident response plans, and continuous monitoring.
  • Recommended Follow-Up: Allocate more resources to meet GLBA requirements and enhance documentation and security measures.

Finding Text

Gramm-Leach-Bliley Act (GLBA) Compliance Material Weakness DEPARTMENT OF EDUCATION ALN #: 84.268 Federal Direct Loans, 84.063 Federal Pell Grants, 84.007 Federal Supplemental Education Opportunity Grant, 84.033 Federal Work Study, and 84.379 TEACH grants Federal Award Identification #: 2022-2023 Financial Aid Year Condition: The College did not sufficiently comply with the updated requirements of GLBA. Criteria: 16 CFR 314.4 Questioned Costs: $0 Context: The College has not sufficiently documented its security risk assessment and safeguards, implemented multi-factor authentication on systems containing personally identifiable information (PII), or implemented continuous monitoring, such as penetration testing and vulnerability scanning. Additionally, the College has not implemented sufficient vendor management policies and reviews, implemented an incident response plan, or provided a written, annual report to the board Cause: The College has limited resources and has allocated certain staff time and dollars as available to address and document compliance with the requirements of GLBA. Effect: The College has not adequately addressed the requirements of GLBA, which may lead to unintended exposure of student information to security risks. Identification as repeat finding, if applicable: Not applicable. Recommendation: We commend the College for the work completed on GLBA. We recommend the College allocate sufficient resources to address the remaining requirements of GLBA. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.

Categories

Student Financial Aid Subrecipient Monitoring Material Weakness

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
10.766 Community Facilities Loans and Grants $24.29M
84.268 Federal Direct Student Loans $10.09M
84.063 Federal Pell Grant Program $3.46M
84.425 Covid-19 Education Stabilization Fund Heerf - Strengthening Institutions Program $377,730
84.007 Federal Supplemental Educational Opportunity Grants $169,094
84.033 Federal Work-Study Program $103,200
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $7,544