An internal audit review conducted in May of 2008 identified several concerns with the Employee Tuition Benefits process. Specifically, it noted that (1) responsibility for the process needed to be assigned and (2) internal controls needed to be improved. Responsibility for the process was given to the Human Resources (HR) Office, who set up a process improvement team. As the team identified opportunities for improvement, they reviewed IRS regulations and identified additional opportunities for improvement. Based on the audit findings and the IRS regulations review, the employee tuition benefit and process have been updated.
For more information and a summary of the updates click here.