This seems nuts, and it's hard to see how student-athletes and collectives that aren't controlled by the school can be subjected to audit-firm oversight given the larger legal status?
But SI says that it's true.
Another question is whether schools on the outside of the P4 could take advantage of still being in the wild west, so to speak: say if the FedEx dude decides to give Memphis a huge advantage.
https://www.si.com/fannation/name-image-likeness/nil-news/power-conferences-to-take-over-nil-oversight-as-ncaa-forfeits-control