Higher education leaders today face a wide range of complex and interconnected challenges. From balancing budgets and managing risks to aligning operations and strengthening cybersecurity, the questions institutions are asking often reflect the shifting realities of the sector.
Below, we’ve gathered some of the most common questions our Higher Education team hears from clients. These FAQs highlight the pressing issues shaping decision making on campuses today and provide practical starting points as you consider how to position your institution for long-term success.
Q: How can I prevent, detect, and address fraud risks?
A: Fraud can hit any institution, even if you think you have established effective internal controls and segregation of duties. The key is a solid internal control framework; think checks and balances, risk assessments, and staff training. Test the effectiveness of your internal controls through regular monitoring and audits, and don’t hesitate to investigate when something seems off. Tools like fraud hotlines are a low-cost way to catch issues early, and regular internal audits help ensure controls are actually working.
Q: How can I keep operations aligned with the institution’s mission while running efficiently in today’s changing higher ed landscape?
A: Operational reviews are your friend—they help you see if programs, resources, and processes really support your goals.
Using KPIs, benchmarking against peers, and scenario planning can reveal inefficiencies and guide improvements, so your resources are focused on student success, retention, and long-term sustainability.
Q: How can I reduce risks from leadership or departmental turnover?
A: Keep policies up to date, document key processes, and cross-train staff. Operational reviews give you continuity, so when leadership or critical staff changes occur, academic and financial operations keep running smoothly.
Q: What is scenario planning, and why should my institution care?
A: Scenario planning is like rehearsing for multiple possible futures—whether it’s enrollment dips, funding cuts, or policy changes. Instead of reacting under pressure, your institution can plan ahead, stay agile, and adapt quickly when things shift.
Q: What are the biggest financial pressures in higher education today, and how can I respond?
A: Institutions face challenges like declining enrollment, shifting state and federal funding, rising costs, and regulatory demands.
Smart financial management—using KPIs, benchmarking, cash flow modeling, and due diligence, all help you make the most of your resources and invest strategically for the future.
Q: How can a vCISO help strengthen cybersecurity and data protection on campus?
A: A Virtual Chief Information Security Officer (vCISO) provides strategic cybersecurity leadership without the cost of a full-time executive. For higher education—where sensitive student data, research information, and financial records are frequent targets—a vCISO can assess risks, design security policies, support compliance with regulations like FERPA and HIPAA, and help respond to emerging cyber threats. This flexible model gives institutions enterprise-level expertise tailored to their size and budget.
Looking Ahead
The questions above are just a snapshot of the challenges and opportunities colleges and universities are navigating today.
If you’re interested in taking a deeper dive into any of the above areas, please do not hesitate to reach out. We are here to help higher education leaders make informed decisions that drive sustainable success.
This material has been prepared for general, informational purposes only and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Should you require any such advice, please contact us directly. The information contained herein does not create, and your review or use of the information does not constitute, an accountant-client relationship.
