Colleges and universities have grappled with many challenging issues throughout the COVID-19 crisis, but federally sponsored research has generally provided stable and (comparatively) uncomplicated revenue- and work-streams through this period. In some cases, federal grants were easier to obtain and comply with as additional funding came available through the CARES Act and federal guidance reduced certain compliance requirements. Ongoing compliance efforts may have suffered as a result. As the economy creeps back toward normal, compliance takes on added importance once again.
Colleges and universities are well advised to consider these compliance steps as part of their reopening plans in order to reduce the risk of, among other things, negative single audit findings, delays or reductions in award funding, and potential referral for enforcement action under, for example, the False Claims Act.
New York University School of Law’s Program on Corporate Compliance and Enforcement republished the alert on its blog.
To read the five key tips, please click here.