UA-unit auditors: Review 3 items

Prosecutor gives task to assistant

Posted: September 12, 2013 at 12:57 a.m.

Legislative auditors have referred three items they found while investigating University of Arkansas at Fayetteville finances to the Washington County prosecutor for further scrutiny.

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Front Section, Pages 1 on 09/12/2013

While the DLA confirmed the misconduct of VCAD Choate and his budget manager Joy Sharp, Treasurer Schook and Vice Chancellor for Finance and Administration (VCFA) Don Pederson are also held responsible for their lack of oversight and perhaps collusion. In this context the Chancellor's decision to rely exclusively on an internal report prepared by Schook herself under Pederson's supervision, rather than calling in external auditors right away, seems inexcusable. Ultimately the question remains unanswered how a deficit amounting to almost $2 million by June 2011 was only "discovered" by the VCFA a full year later.

Posted by: ImUnarmed

September 12, 2013 at 9:29 p.m. ( | suggest removal )