Enhancing Financial Accountability: The Role of Audit Education in Managing Student Assistance Funds in Educational Institutions
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Published:
Dec 30, 2023
Keywords:
Audit Education, Student Assistance Funds, Financial Management, Educational Institutions, Accountability
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Articles
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Abstract
This research investigates the role of audit education in assessing the effectiveness of management of poor student assistance funds within educational institutions. Through a mixed-methods approach encompassing qualitative interviews and quantitative surveys, the study explores the impact of audit education initiatives on financial accountability, transparency, and excellence in fund administration. Qualitative analysis of stakeholder perspectives reveals insights into the perceptions, experiences, and challenges associated with student assistance fund management and audit practices. Quantitative findings provide empirical evidence on the prevalence and impact of audit education programs on staff competency, fund administration practices, and compliance with regulatory requirements. The integration of qualitative and quantitative data yields nuanced insights into the strengths and weaknesses of current practices, as well as implications for policy, practice, and future research in educational finance and audit education. The study underscores the critical importance of audit education in fostering a culture of accountability, integrity, and continuous improvement within educational institutions, thereby advancing the collective goal of equitable access to education and student success.
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How to Cite
Rizqullah, A. (2023). Enhancing Financial Accountability: The Role of Audit Education in Managing Student Assistance Funds in Educational Institutions. Indonesia Auditing Research Journal, 12(4), 171–178. Retrieved from https://journals.iarn.or.id/index.php/ARJ/article/view/268
References
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Appelbaum, D., Kogan, A., & Vasarhelyi, M. A. (2017). Big Data and analytics in the modern audit engagement: Research needs. Auditing: A Journal of Practice & Theory, 36(4), 1–27.
Barr, M. J., & McClellan, G. S. (2018). Budgets and financial management in higher education. John Wiley & Sons.
Cassell, C., & Bishop, V. (2019). Qualitative data analysis: Exploring themes, metaphors and stories. European Management Review, 16(1), 195–207.
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Darling-Hammond, L., & Cook-Harvey, C. M. (2018). Educating the Whole Child: Improving School Climate to Support Student Success. Learning Policy Institute.
Diemer, A., Khushik, F., & Ndiaye, A. (2020). SDG 4 “quality education”, the cornerstone of the SDGs: Case studies of Pakistan and Senegal. Journal of Economics and Development Studies, 8(1), 9–32.
Dougherty, K. J., & Reddy, V. T. (2011). The impacts of state performance funding systems on higher education institutions: Research literature review and policy recommendations.
Ehrhardt, M. C. (2011). Financial management: theory and practice. USA.
Fayez, R., AlMuntashery, A., Bodie, G., Almamar, A., Gill, R. S., Raîche, I., Mueller, C. L., Moustarah, F., Khokhotva, M., & Anvari, M. (2012). Canadian Surgery Forum1 Is laparoscopic sleeve gastrectomy a reasonable stand-alone procedure for super morbidly obese patients? 2 Postoperative monitoring requirements of patients with obstructive sleep apnea undergoing bariatric surgery3 Role of relaparoscopy in the diagnosis and treatment of bariatric complications in the early postoperative period4 Changes of active and total ghrelin, GLP-1 and PYY following restrictive bariatric surgery and their impact on satiety: comparison of sleeve gastrectomy and adjustable gastric banding5 Prioritization and willingness to pay for bariatric surgery: the patient perspective6 Ventral hernia at the time of laparoscopic gastric bypass surgery: Should it be repaired? 7 Linear stapled gastrojejunostomy with transverse handsewn enterotomy closure significantly reduces strictures for laparoscopic Roux-en-Y bypass8 Laparoscopic biliopancreatic diversion with duodenal switch as second stage for super super morbidly obese patients. Do all patients benefit? 9 Sleeve gastrectomy in the super super morbidly obese (BMI> 60 kg/m2): a Canadian experience10 Laparoscopic gastric bypass for the treatment of refractory idiopathic gastroparesis: a report of 2 cases11 Duodeno-ileal switch as a primary bariatric and metabolic surgical option for the severely obese patient with comorbidities: review of a single-institution case series of duodeno-ileal intestinal bypass12 Management of large paraesophageal hernias in morbidly obese patients with laparoscopic sleeve gastrectomy: a case series13 Early results of the Ontario bariatric surgical program: using the bariatric registry14 Improving access to bariatric surgical care: Is universal health care the answer? 15 Early and liberal postoperative exploration can reduce morbidity and mortality in patients undergoing bariatric surgery16 Withdrawn17 Identification and assessment of technical errors in laparoscopic Roux-en-Y gastric bypass18 A valid and reliable tool for assessment of surgical skill in laparoscopic Roux-en-Y gastric bypass19 Psychiatric predictors of presurgery drop-out following suitability assessment for bariatric surgery20 Predictors of outcomes following Roux-en-Y gastric bypass surgery at The Ottawa Hospital21 Prophylactic management of cholelithiasis in bariatric patients: Is routine cholecystectomy warranted? 22 Early outcomes of Roux-en-Y gastric bypass in a publicly funded obesity program23 Similar incidence of gastrojejunal anastomotic stricture formation with han…. Canadian Journal of Surgery.
Finnie, R. (2004). Student Financial Aid: The Role of Loans and Grants. School of Policy Studies, Queen’s University.
Gray, L. M., Wong-Wylie, G., Rempel, G. R., & Cook, K. (2020). Expanding qualitative research interviewing strategies: Zoom video communications. The Qualitative Report, 25(5), 1292–1301.
Gupta, S. (2017). Ethical issues in designing internet-based research: Recommendations for good practice. Journal of Research Practice, 13(2), D1–D1.
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Magak, E. O. (2013). Challenges Facing Head Teachers In Financial Management In Public Secondary Schools: A Case Of Kisumu East District Kenya. University of Nairobi,.
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Mertzanis, C., Balntas, V., & Pantazopoulos, T. (2020). Internal auditor perceptions of corporate governance in Greece after the crisis. Qualitative Research in Accounting & Management, 17(2), 201–227.
Ntim, C. G., Soobaroyen, T., & Broad, M. J. (2017). Governance structures, voluntary disclosures and public accountability: The case of UK higher education institutions. Accounting, Auditing & Accountability Journal, 30(1), 65–118.
Petrucelli, J. R., & Peters, J. R. (2016). Preventing fraud and mismanagement in government: Systems and structures. John Wiley & Sons.
Pina, V., Torres, L., & Acerete, B. (2007). Are ICTs promoting government accountability?: A comparative analysis of e-governance developments in 19 OECD countries. Critical Perspectives on Accounting, 18(5), 583–602.
Robinson, O. C. (2014). Sampling in interview-based qualitative research: A theoretical and practical guide. Qualitative Research in Psychology, 11(1), 25–41.
Schildkamp, K. (2019). Data-based decision-making for school improvement: Research insights and gaps. Educational Research, 61(3), 257–273.
Siddiqui, J., Nasreen, T., & Choudhury‐Lema, A. (2009). The audit expectations gap and the role of audit education: the case of an emerging economy. Managerial Auditing Journal, 24(6), 564–583.
Solomon, J. (2020). Corporate governance and accountability. John Wiley & Sons.
Towne, L., & Shavelson, R. J. (2002). Scientific research in education. National Academy Press Publications Sales Office.
Tucker, B. P., & Parker, L. D. (2020). The question of research relevance: a university management perspective. Accounting, Auditing & Accountability Journal, 33(6), 1247–1275.
Usher, A. (2009). The Post-Secondary Student Support Program: An Examination of Alternative Delivery Mechanisms. A Report to the Indian and Northern Affairs Canada. Educational Policy Institute (NJ1).
Yaacob, H., & Donglah, N. K. (2012). Shari’ah audit in Islamic financial institutions: the postgraduates’ perspective. International Journal of Economics and Finance, 4(12), 224–239.
Appelbaum, D., Kogan, A., & Vasarhelyi, M. A. (2017). Big Data and analytics in the modern audit engagement: Research needs. Auditing: A Journal of Practice & Theory, 36(4), 1–27.
Barr, M. J., & McClellan, G. S. (2018). Budgets and financial management in higher education. John Wiley & Sons.
Cassell, C., & Bishop, V. (2019). Qualitative data analysis: Exploring themes, metaphors and stories. European Management Review, 16(1), 195–207.
Dachelet, K., & Goldrick-Rab, S. (2015). Investing in Student Completion: Overcoming Financial Barriers to Retention through Small-Dollar Grants and Emergency Aid Programs. Online Submission.
Darling-Hammond, L., & Cook-Harvey, C. M. (2018). Educating the Whole Child: Improving School Climate to Support Student Success. Learning Policy Institute.
Diemer, A., Khushik, F., & Ndiaye, A. (2020). SDG 4 “quality education”, the cornerstone of the SDGs: Case studies of Pakistan and Senegal. Journal of Economics and Development Studies, 8(1), 9–32.
Dougherty, K. J., & Reddy, V. T. (2011). The impacts of state performance funding systems on higher education institutions: Research literature review and policy recommendations.
Ehrhardt, M. C. (2011). Financial management: theory and practice. USA.
Fayez, R., AlMuntashery, A., Bodie, G., Almamar, A., Gill, R. S., Raîche, I., Mueller, C. L., Moustarah, F., Khokhotva, M., & Anvari, M. (2012). Canadian Surgery Forum1 Is laparoscopic sleeve gastrectomy a reasonable stand-alone procedure for super morbidly obese patients? 2 Postoperative monitoring requirements of patients with obstructive sleep apnea undergoing bariatric surgery3 Role of relaparoscopy in the diagnosis and treatment of bariatric complications in the early postoperative period4 Changes of active and total ghrelin, GLP-1 and PYY following restrictive bariatric surgery and their impact on satiety: comparison of sleeve gastrectomy and adjustable gastric banding5 Prioritization and willingness to pay for bariatric surgery: the patient perspective6 Ventral hernia at the time of laparoscopic gastric bypass surgery: Should it be repaired? 7 Linear stapled gastrojejunostomy with transverse handsewn enterotomy closure significantly reduces strictures for laparoscopic Roux-en-Y bypass8 Laparoscopic biliopancreatic diversion with duodenal switch as second stage for super super morbidly obese patients. Do all patients benefit? 9 Sleeve gastrectomy in the super super morbidly obese (BMI> 60 kg/m2): a Canadian experience10 Laparoscopic gastric bypass for the treatment of refractory idiopathic gastroparesis: a report of 2 cases11 Duodeno-ileal switch as a primary bariatric and metabolic surgical option for the severely obese patient with comorbidities: review of a single-institution case series of duodeno-ileal intestinal bypass12 Management of large paraesophageal hernias in morbidly obese patients with laparoscopic sleeve gastrectomy: a case series13 Early results of the Ontario bariatric surgical program: using the bariatric registry14 Improving access to bariatric surgical care: Is universal health care the answer? 15 Early and liberal postoperative exploration can reduce morbidity and mortality in patients undergoing bariatric surgery16 Withdrawn17 Identification and assessment of technical errors in laparoscopic Roux-en-Y gastric bypass18 A valid and reliable tool for assessment of surgical skill in laparoscopic Roux-en-Y gastric bypass19 Psychiatric predictors of presurgery drop-out following suitability assessment for bariatric surgery20 Predictors of outcomes following Roux-en-Y gastric bypass surgery at The Ottawa Hospital21 Prophylactic management of cholelithiasis in bariatric patients: Is routine cholecystectomy warranted? 22 Early outcomes of Roux-en-Y gastric bypass in a publicly funded obesity program23 Similar incidence of gastrojejunal anastomotic stricture formation with han…. Canadian Journal of Surgery.
Finnie, R. (2004). Student Financial Aid: The Role of Loans and Grants. School of Policy Studies, Queen’s University.
Gray, L. M., Wong-Wylie, G., Rempel, G. R., & Cook, K. (2020). Expanding qualitative research interviewing strategies: Zoom video communications. The Qualitative Report, 25(5), 1292–1301.
Gupta, S. (2017). Ethical issues in designing internet-based research: Recommendations for good practice. Journal of Research Practice, 13(2), D1–D1.
Jackson, G. A. (1978). Financial aid and student enrollment. The Journal of Higher Education, 49(6), 548–574.
Magak, E. O. (2013). Challenges Facing Head Teachers In Financial Management In Public Secondary Schools: A Case Of Kisumu East District Kenya. University of Nairobi,.
McKinney, J. B. (2015). Effective financial management in public and nonprofit agencies.
Mertzanis, C., Balntas, V., & Pantazopoulos, T. (2020). Internal auditor perceptions of corporate governance in Greece after the crisis. Qualitative Research in Accounting & Management, 17(2), 201–227.
Ntim, C. G., Soobaroyen, T., & Broad, M. J. (2017). Governance structures, voluntary disclosures and public accountability: The case of UK higher education institutions. Accounting, Auditing & Accountability Journal, 30(1), 65–118.
Petrucelli, J. R., & Peters, J. R. (2016). Preventing fraud and mismanagement in government: Systems and structures. John Wiley & Sons.
Pina, V., Torres, L., & Acerete, B. (2007). Are ICTs promoting government accountability?: A comparative analysis of e-governance developments in 19 OECD countries. Critical Perspectives on Accounting, 18(5), 583–602.
Robinson, O. C. (2014). Sampling in interview-based qualitative research: A theoretical and practical guide. Qualitative Research in Psychology, 11(1), 25–41.
Schildkamp, K. (2019). Data-based decision-making for school improvement: Research insights and gaps. Educational Research, 61(3), 257–273.
Siddiqui, J., Nasreen, T., & Choudhury‐Lema, A. (2009). The audit expectations gap and the role of audit education: the case of an emerging economy. Managerial Auditing Journal, 24(6), 564–583.
Solomon, J. (2020). Corporate governance and accountability. John Wiley & Sons.
Towne, L., & Shavelson, R. J. (2002). Scientific research in education. National Academy Press Publications Sales Office.
Tucker, B. P., & Parker, L. D. (2020). The question of research relevance: a university management perspective. Accounting, Auditing & Accountability Journal, 33(6), 1247–1275.
Usher, A. (2009). The Post-Secondary Student Support Program: An Examination of Alternative Delivery Mechanisms. A Report to the Indian and Northern Affairs Canada. Educational Policy Institute (NJ1).
Yaacob, H., & Donglah, N. K. (2012). Shari’ah audit in Islamic financial institutions: the postgraduates’ perspective. International Journal of Economics and Finance, 4(12), 224–239.
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