Finding 577493 (2023-001)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2023
Accepted
2023-11-01
Audit: 2011
Organization: Erskine 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).
  • Impacted Requirements: Key areas include lack of a written information security program, insufficient risk assessments, absence of multi-factor authentication, and inadequate vendor management.
  • Recommended Follow-Up: Allocate necessary resources to ensure compliance with GLBA requirements and implement corrective actions as agreed by management.

Finding Text

Gramm-Leach-Bliley Act (GLBA) Compliance Significant Deficiency DEPARTMENT OF EDUCATION ALN #: 84.268, 84.063, 84.007, 84.033, 84.038, and 84.379-Student Financial Assistance Cluster Federal Award Identification #: 2022-2023 Financial Aid Year Condition: The College did not sufficiently comply with the updated requirements of GLBA. Criteria: 16 CFR 314.3, 16 CFR 314.4 Questioned Costs: $-0- Context: The College has not: • documented a written information security program addressing all requirements of GLBA • sufficiently documented its security risk assessment and safeguards for all systems containing personally identifiable information (PII) • implemented multi-factor authentication on systems containing personally identifiable information (PII) • implemented sufficient vendor management policies and reviews • provided a written, annual report to the board Cause: The College has not allocated sufficient resources to address and document compliance with the updated requirements of GLBA. Effect: The College has not adequately addressed the updated 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 recommend the College allocate sufficient resources to address all updated requirements of GLBA. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.

Categories

Subrecipient Monitoring Significant Deficiency

Other Findings in this Audit

  • 1046 2023-001
    Significant Deficiency
  • 1047 2023-001
    Significant Deficiency
  • 1048 2023-001
    Significant Deficiency
  • 1049 2023-001
    Significant Deficiency
  • 1050 2023-001
    Significant Deficiency
  • 1051 2023-001
    Significant Deficiency
  • 577488 2023-001
    Significant Deficiency
  • 577489 2023-001
    Significant Deficiency
  • 577490 2023-001
    Significant Deficiency
  • 577491 2023-001
    Significant Deficiency
  • 577492 2023-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $5.11M
84.063 Federal Pell Grant Program $1.85M
84.038 Federal Perkins Loan Program $400,408
84.007 Federal Supplemental Educational Opportunity Grants $130,811
84.033 Federal Work-Study Program $75,188
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $22,632