Audit notes corrections, issues
by Michael DeVault - posted Thursday, January 17th, 2013 @ 12:00 pm
Officials at the University of Louisiana-Monroe have corrected a number of accounting irregularities discovered two years ago.
The irregularities were first revealed in a 2011 audit covering the final two years of James Cofer's tenure as ULM president. At the time, the Legislative Auditor cited ULM for failing to provide "an accurate annual fiscal report requiring numerous audit adjustments."
Those issues have been corrected, according to a legislative audit released last week.
"The findings in our prior management letter relating to control weaknesses over bank reconciliation process, inaccurate annual fiscal report and federal grant reimbursement in excess of actual expenses have been resolved by management," the new audit stated.