Citi Prepares for Audit to Pursue Lifting Federal Oversight and Accelerating Growth
Citi plans to provide a comprehensive internal audit to banking regulators, aiming for submission by the first quarter of 2027, or maybe even earlier. The goal is to prompt these regulators to lift the consent orders that have governed the bank’s operations since 2020, as reported by Reuters on October 12, citing sources who chose […]
School District Claims Successful Audit, But the Report Reveals Another Side.
A recent state audit revealed that a New Jersey school district utilized taxpayer funds for an unfinished museum and an underused employee gym. This audit, which also referred some issues to criminal authorities, highlighted the Newark Public Schools’ expenditure of around $566,000 on a gym located within its administrative building. Over a three-month review period […]
Audit reveals Newark school officials spent $566K on a gym that is only used by 7 people.
Leaders at Newark Public Schools, where fewer than half of the students read at grade level and even less demonstrate proficiency in math, spent $566,000 on an “administrative gym” that sees just seven visitors daily, according to a recent audit. New Jersey’s largest school district is facing increasing scrutiny after this upscale gym was pointed […]
Cuts to IRS agents during Trump’s administration led to a $3.5 billion decrease in audit revenue.
The Trump administration has brought the federal workforce down to its lowest levels in about 60 years, as indicated by recent data from the Bureau of Labor Statistics. As of August, there were approximately 2.67 million federal employees, a decrease from just over 3 million when President Trump assumed office. This marks the lowest workforce […]
Minneapolis Audit Suggests Potential Fraud in Tim Walz’s State
Minnesota Fraud Scandals May Continue Amid Audit Findings Recent audit reports suggest that the fraud issues tied to community group contracts in Minnesota, specifically following George Floyd’s death, may not be resolved. A review conducted on the Neighborhood Safety Contract Management has revealed alarming gaps in oversight regarding over 100 contracts associated with the “violence […]
Jared Moskowitz’s audit uncovers $1 billion in unmonitored COVID relief funds
During his tenure as the director of the Florida Division of Emergency Management (FDEM), Representative Jared Moskowitz, a Democrat from Florida, oversaw the disbursement of over $1 billion in COVID-19 relief funds without the necessary oversight, according to new records. The 2022 State of Florida Compliance and Internal Controls over Financial Reporting and Federal Awards […]
Audit in Minneapolis identifies potential fraud risk in contracts for violence prevention.
As Minnesota’s significant fraud issues attract national attention, a recent audit is raising concerns about possible fraud linked to contracts awarded by the city of Minneapolis in response to George Floyd’s death. In 2020, over 100 contracts were issued to community organizations as policing alternatives, but a report from the Minnesota Star-Tribune indicates that inadequate […]
California high-speed rail inappropriately covered costs for consultants’ travel, according to an audit.
The high-speed rail project in California, already under scrutiny, recently made headlines for spending over $680,000 on questionable travel expenses associated with consultants. These expenses included expensive plane tickets and rideshare trips to locations like gyms, nightclubs, and even an “escape room,” according to a troubling new audit. This report, issued by the inspector general […]
GSA requests an audit of AbilityOne for products from China labeled as American-made
Audit of AbilityOne Program Launched Amid Concerns In a significant move, the Trump administration is initiating a comprehensive audit of products, pricing, and supply chains related to the AbilityOne program. This comes as an independent federal agency investigates claims that a company has been misrepresenting foreign products with Chinese technology as American-made. A draft letter […]
100 Long Island retirees found to be fraudulently receiving $1.6M from Medicare through double-dipping, according to an audit
Medicare Double-Dipping Costs Nassau County Taxpayers Nearly 100 retirees from Nassau County have been caught collecting Medicare reimbursements improperly for over two decades, leading to a taxpayer loss exceeding $1.6 million. This finding comes from a recent audit. Released on June 15 by County Auditor Elaine Phillips, the audit revealed that about 94 retired county […]