- Colleges and universities are facing heightened scrutiny over governance practices in the wake of increasing regulatory oversight, economic uncertainty, high-profile scandals, and violent crimes.
- The 2014 Digital Accountability & Transparency Act (DATA Act) is creating government-wide standards for financial data, and expanding what data needs to be published on usaspending.gov.
- De-risking strategies in pension plans are currently much discussed by corporate management and pension plan fiduciaries. These strategies may include adopting a liability driven investment (LDI) strategy or purchasing participating annuity contracts (buy-in contracts) on the asset side to decrease volatility and manage cash flow.
- Higher education institutions face increasing demands to change their business models. Top of mind for government officials, administrators, parents, and students is the need to reduce the cost of a degree and the amount of student debt. At the same time, students are coming to college with higher expectations and greater needs.
- Governing boards, usually via an audit committee, should take an active role in monitoring the risk and mitigation of fraud, as well as in overseeing an effective ethics and compliance program.
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