Available data indicate that colleges and universities have experienced an unexpected rise in occupational fraud over the past two decades. In order to mitigate the risk of fraud, these institutions must be proactive and have strong internal controls and policies. The purpose of this study was to examine the current controls in place at Midwest post-secondary institutions belonging to the National Association of Independent Colleges and Universities (NAICU). The study examined the following: what level of control these institutions have; what level of trust financial officers have in their current control structures; if previous experiences with fraud influence present systems; which controls financial officers would add to strengthen their current control designs; what differences exist in financial officers' confidence levels in their control systems based on their institutions' experience with fraud; and what differences in controls exist based on financial officers' characteristics and institution characteristics. A researcher-developed survey instrument was used to collect both quantitative and qualitative data. The survey instrument was comprised of five-point Likert-type scales and open-form questions. It was sent to 260 chief financial officers at Midwest member institutions of the NAICU using SurveyMonkey. For quantitative analysis, descriptive and inferential statistics were used to analyze the research questions addressed, specifically, means, percentages and "t" test. For qualitative analysis, data were coded to reflect descriptive meanings of the responses and then organized and placed into tables for interpretation. Results of the study indicate institutions rely heavily on administrators' strong tone at top and their demonstration of ethical behavior to deter fraud. Few institutions reported having fraud training programs, codes of ethics, fraud policies, fraud prosecution policies, whistle-blower policies, or fraud hotlines, all of which contribute to an antifraud environment. The study also revealed there are no significant differences in controls between institutions based on their experiences with fraud; yet, chief financial officers whose institutions have not experienced fraud are more confident in their systems than their counterparts. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]