Published 04-08-24
Submitted by Baker Tilly
Authored by Adrienne Larmett
Higher education is at an inflection point, with many institutions fighting for their existence. Changing student demographics and needs, evolving technologies and market demands and the COVID-19 pandemic have compelled colleges and universities to evolve. Simultaneously, institutions are combatting an increasing societal narrative on the perceived benefit of a college degree compared to the rising cost of education, public criticism of growing burdensome student loan debt and the ongoing debate regarding the practicality of a liberal arts education versus education focused on career pragmatism. Nonetheless, higher education maintains an essential role in the modern era. It serves as:
As higher education navigates mounting challenges, works to improve its image and value proposition and progresses to meet the multifaceted needs of various stakeholders, it has a key ally: internal audit.
This article shares perspectives on the historic and current challenges, risks and other issues higher education institutions face, and how internal audit can help.
Key takeaways
How Baker Tilly can help
Our specialized higher education internal audit team has experience assessing and auditing every function within the higher education environment. We're here to help your institution proactively plan for disruption and tackle today's challenges.
For more information, or to learn more about how Baker Tilly’s higher education risk advisors can help your institution, connect with the team.
Baker Tilly US, LLP (Baker Tilly) is a leading advisory CPA firm, providing clients with a genuine coast-to-coast and global advantage in major regions of the U.S. and in many of the world’s leading financial centers – New York, London, San Francisco, Los Angeles, Chicago and Boston. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 141 territories, with 43,000 professionals and a combined worldwide revenue of $5.2 billion. Visit bakertilly.com or join the conversation on LinkedIn, Facebook and Instagram.
More from Baker Tilly