
Higher Education Audit and Assurance Best Practices / Benchmarking Studies Board and Audit Committee Constituent Relationship Management (CRM) Construction Project Risk Management Enterprise Risk Management Financial Modeling and Decision Support Financial Ratios / Benchmarking Forensic Accounting and Fraud Investigations Information Technology and Data Privacy Internal Audit Regulatory Compliance Sponsored Research Compliance Strategy and Finance Tax

Board and audit committee

Our team of higher education professionals works with Audit Committees and Boards every day. Many of our senior team members serve on Boards, as well.

Baker Tilly understands and is versed in the risks and issues that college and university Boards face, including:

Board engagement
Board recruitment
Conflicts of interest
Inclusiveness
Financial expertise
Fundraising
Internal audit effectiveness
Risk assessments
Strategic analysis

Additionally, we are experienced and knowledgeable facilitators of discussions with senior leadership, having led and participated in many Audit Committee and Board of Trustees meetings covering these and other assessment areas. College and university Boards benefit from the lessons we have learned at over 150 colleges and universities.

Client experience: Coordinating a self assessment
Institutional challenge A higher education institution wanted an independent third party to help coordinate and facilitate its annual Board of Trustees self assessment. The institution needed an approach that encouraged trustee input, participation, and ownership of assessment outcomes. Capabilities provided Baker Tilly helped the organization to create survey questions designed to evaluate the Board’s effectiveness in achieving each of its strategic objectives. We provided the client periodic updates during the survey period on the status of responses of the participants. We were available for in-person interviews for those individuals who wanted a more in-depth discussion. When the survey period closed, Baker Tilly prepared a report that summarized the results of the survey, identified areas of strength and weakness, and identified key themes. Baker Tilly presented the results of the survey at the Board of Trustees annual meeting. Results Our work included a comparison of university practices to established frameworks promulgated by the American Institute of Certified Public Accountants (AICPA) and Board Source. Baker Tilly facilitated a discussion with a Board designated committee to identify opportunities and next steps to improve processes designed to meet the strategic goals of the institution.
Additional board and audit committee services
Administering surveys using encryption technology Collaborating with institutions to create action plans in response to assessment results Developing and refining questions for introspection Facilitating discussions Reporting on assessment results