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Guide for Financial Statement Audits and Compliance ...

The Higher Education Act of 1965, as amended (HEA) requires annual financial and compliance audits for all schools that participate in the U.S. Department of Education (ED) student financial assistance (SFA) programs under Title IV of the HEA (20 U.S.C. § 1094 and Title 34 of the Code of Federal Regulations (34 C.F.R.) § 668.23).

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