Nebraska State Auditors Cite Shocking $10.5 Billion In Errors
For the second year in a row, Nebraska auditors have bashed the state's accounting practices, this time citing an alarming $10.5 billion in errors.
According to a recent report from the
Omaha World-Herald newspaper:
The office issued the "disclaimer of opinion" after concluding that the number and size of the errors put the report's accuracy in question, according to a recently released letter addressed to the governor and the speaker of the Legislature.In the letter, Assistant Deputy State Auditor Kris Kucera said auditors had proposed more than 110 adjustments to the Annual Comprehensive Financial Report for the fiscal year that ended June 30, 2021. She said state officials made the majority of the proposed adjustments.
The
letter itself lists a number of "significant audit matters" including using "estimates when calculating self-insurance reserves" and "misstatements detected as a result of audit procedures."
Per Nebraska news network KETV, the state audit also called into question whether or not the state actually received hundreds of thousands of COVID-19 testing kits it purportedly gave to residents:
The audit also questioned the state's records when it comes to Test Nebraska and its no-bid contracts with Nomi Health.The state said Nomi provided more than a million COVID-19 test kits, from April 2020 to July 2021.The deputy state auditor Craig Kubicek said they wanted to see proof."Okay, you get 1.2 million in test kits. Let's document that we actually got those," Kubicek said.Kubicek said the state could not show it received nearly 400,000 of those kits that are valued up to $13 million.As noted by the
World-Herald, the majority of the problems have been corrected at this time, but the entire situation brings to light the importance of the necessity of careful accounting to avoid major fiscal mistakes.
No matter how large your CPA firm is, making sure that you pay attention to even the smallest details is a critical aspect of ensuring that your clients remain satisfied year after year.
About Rebekah Barton
Rebekah's search engine optimization career began completely by accident as a college student. Over the course of her career so far, she has "grown up" with the SEO industry, from writing content while juggling classes to managing her own teams of writers and overseeing SEO strategy in subsequent roles. She is excited to bring her passion for high-quality content to CountingWorks, Inc.
Outside of work, Rebekah can be found doing yoga, shopping, watching the Indianapolis Colts, or spending time with her two young daughters. A lifelong Disney and Star Wars fan, she alternates between wishing she lived in Beast's castle or was making the Kessel Run in the Millennium Falcon.
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