# Presentation: 235458

## NASFAA 2003:  Reconnecting

***NASFAA 2003:  Reconnecting***
***With Students!***

## eZ-Audit – Electronic Submissions of Financial Statements and Compliance Audits
Session #105

**Session #105**

## What is eZ-Audit?

- A new, web-based, single point of submission for financial statements and compliance audits to the Department of Education

## EZ Audit is easy!

- A designee from each school will simply:
- Sign on to eZ-Audit
- Enter summary audit and financial data into a web form
- Attach an electronic version of the report
- Click the submit button.

## Why eZ-Audit?

- Did you know that FSA receives over 13,000 financial statements and compliance audits annually (that’s over 1 million individual pieces of paper)?
- Have you ever been told that your financial statement and/or compliance audit has been lost?
- Have you ever just wanted to know the status of your submissions?

## How does eZ-Audit work?

**5 basics steps to eZ-Audit:**
- Schools submit their compliance audit data and summary financial data, via an internet web-form.
- Schools also attach an electronic copy of their financial statement and compliance audit in a non-editable pdf format (using Adobe Acrobat).

## How does e-Z Audit work? (2)

- The eZ-Audit system forwards financial statements and deficient audits to FSA’s Case Management Teams for resolution.
- Case Teams communicate with schools to reach resolution.
- As desired, schools may check eZ-Audit for the status of their submissions.

## eZ Audit Benefits

- Web forms will contain pre-populated fields.
- No new reporting requirements:  data entry will be limited to the same data already contained in the reports.
- On-line form completion should take less than 1 hour.

## eZ Audit Benefits (2)

- System will provide automatic error checking prior to submission.
- Instant acknowledgement of receipt – no more lost reports!
- Status of submissions accessible online 24/7.
- Help Desk available to provide assistance.

## Types of Submissions

- Annual
- Merger/Change in Ownership
- Initial/Reinstatement
- Waiver Request
- Change in Fiscal Year End
- Stub Audit
- Additional Information

## www.ezaudit.ed.gov

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## Self Service Area

- Check the status of your submissions:
- Annual submission due date
- Annual submission receipt date
- Overdue notice

## Self Service Area (2)

- FSA Review Status:
- Receipt date of your submission
- Is your submission complete?
- Status of FSA’s review of financial statement
- Status of FSA’s review compliance audit

## Self Service Area (3)

- Other Messages, including:
- Date Final Audit Determination was sent
- Notification that a request for a letter of credit was sent to the institution, and the due date of the letter of credit
- Date of FSA receipt of letter of credit

## School User Roles

**3 School User roles in eZ Audit**
**Schools determine who will perform each role**
**Institution/School Administrator**
**Data Entry User**
**Submitter**

## School User Roles (2)

**Institution/School Administrator **
- Registers the school with eZ-Audit
- Provides/manages access to data entry and submission approval personnel, as identified by the school
- Maintains security information regarding school users as required

## School User Roles (3)

**Data Entry Users**
- Enters data into the eZ-Audit system
- Attaches non-editable pdf files of audited financial statements and compliance audits
**Submitters**
- Reviews the submission *prior *to “submit”
- Approves the submission via the “submit” action

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## Auditor Role

- If assigned the Data Entry role, the auditor:
- Completes data entry fields
- Attaches audit and financial statements in non-editable pdf format using Adobe Acrobat

## Auditor Role (2)

- If your auditor is not selected as data entry user:
- Request auditor to provide you the audit and financials in non-editable pdf format.
- _NOTE_:  For all submissions, attestation of your financial statements and compliance audit will be in the attachments of your documents.  Additional electronic signatures will not be required.

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## eZ Audit Registration

- Detailed instructions posted on IFAP and distributed today.
- For security purposes, you must mail in registration information on your school’s letterhead. Requested information includes:
- Name and signature of your President/CEO
- Name, signature and email address of your eZ-Audit Institution Administrator
- OPE ID
- Phone and Fax Number of EZ Audit Institution Administrator
- Fiscal Year End Date

## Additional Information

- IFAP – Electronic Announcements
- March 31, 2003 – School User Guides – non-profit, public and proprietary
- April 7, 2003 – Registration instructions
- June 3, 2003 – Frequently Asked Questions
- IFAP – Federal Register
- Notice May 16, 2003

## What should you do next?

- Talk to your auditor
- Discuss the possibility of your auditor completing the data entry in eZ-Audit.
- Discuss the possibility of your auditor providing you with your audit electronically, in non-editable pdf format.
- Review the FAQ document and Registration Instructions posted on IFAP, as well as the school user guide

##    We appreciate your feedback and comments.  If you have further questions or suggestions, please contact us at:  
			fsaezaudit@ed.gov
or
(877)263-0780

- 			fsaezaudit@ed.gov
- or
- (877)263-0780

## Byron Scott
Senior Financial Analyst
Chicago Case Management Team
(312) 886-8734
byron.scott@ed.gov

- Senior Financial Analyst
- Chicago Case Management Team
- (312) 886-8734
- byron.scott@ed.gov

- Thanks!

## NASFAA 2003:  Reconnecting

***NASFAA 2003:  Reconnecting***
***With Students!***