Finding Text
Type: Internal Control Over Compliance Criteria: Credit balances are required to be remitted to student no later than 14 days after the credit balance occurred. Condition: Credit balances for two students were not paid timely. Cause: The late payments were due to an oversight within the School. Effect: The students did not receive their credit balances timely. Recommendation: The School should review their procedures to ensure that student credit balances are returned within the 14-day time frame. Management?s Response: The School will review their procedures over the timely disbursement of student credit balances.