A committee of a regional accreditor last week recommended that the University of Phoenix be placed "on notice," which is a lesser sanction than the probation a peer review team suggested earlier  this year, the university said in a financial statement . The Higher Learning Commission of the North Central Association of Colleges and Schools is considering the university's 10-year bid for reaffirmation. The peer review team identified alleged governance problems at the university, including a lack of autonomy from its holding company, the Apollo Group. The university made subsequent changes in response to the report. The commission's Board of Trustees is scheduled to make the final ruling on the university's bid next month. The board gets the final call and is not required to take into account the report released last week by the commission's Institutional Actions Council First Committee.