KPMG says that a lack of controls and ineffective oversight are to blame for the problems that have haunted San Diego’s financial statements.
According to the San Diego Union-Tribune, a draft version of KPMG’s final audit report said that the firm found that the city “had inadequate policies, procedures, internal controls and personnel to ensure that an accurate and reliable Comprehensive Annual Financial Report was prepared and reviewed on a timely basis.”
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access