An audit report from The Institute of World Politics has recently received a favorable review from the Department of Education (DOE).
The audit report was prepared by Grant Thornton in accordance with the Office of Management and Budget Circular A-133, and covers the period of August 1, 2011-July 31, 2012. DOE reviewed the portions of the audit that relate to IWP's participation in any Title IV, Higher Education Act programs. DOE has reaffirmed the financial reporting and oversight requirements that the Institute has followed for the last year. Specifically, the Institute does not need to maintain a letter of credit on behalf of DOE, nor does the Institute need to provide any financial reports beyond what is expected of every school with a financial aid program.
Many thanks must go to LaNae Herrara, Director of Financial Aid, who assisted DOE during this audit and who helps ensure IWP's ongoing compliance with requirements for Title IV.