8VAC40-31-200. Audit requirements.
A. All certified postsecondary schools shall be subject to random periodic audits. The purpose of such audit shall be to verify compliance with Article 3 (§ 23.1-213 et seq.) of Chapter 2 of Title 23.1 of the Code of Virginia and the provisions outlined in this chapter.
B. Audits shall be random or triggered by, but not limited to, the following events:
1. Council staff concerns based on questionable information in the initial or recertification application provided by the school.
2. Greater than average volume and frequency of negative student complaints or adverse publicity.
3. Difficulty securing accreditation within the specified time period.
4. Adverse action by the U.S. Department of Education (USED) or the school's accrediting agency.
5. A USED composite financial responsibility score of less than 1.0.
C. Following an audit of the school, council staff shall prepare a report and, in the case of instances of noncompliance, either give the school an opportunity to remedy the noncompliance or proceed to revocation. In cases of proceeding to revocation, staff will report to council at the next feasible meeting.
Statutory Authority
§ 23.1-215 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 22, Issue 23, eff. August 24, 2006; amended, Virginia Register Volume 30, Issue 8, eff. February 3, 2014; Volume 41, Issue 25, eff. September 11, 2025.