Friday, October 27, 2006

Bad Call

The letter from Student Association President Samantha Prahl to the Director of UWM's Internal Audit division was already seen as a sign of desperation. But from the accounting people I have spoken to about it, the fact that she requested an independent audit is suspect in itself. Standard accounting practice is to let any internal audit division have first crack at the books.

While having an independent audit sounds good, having that be the first audit is suspect because there is too much leeway for bribery or coercion to affect the results, especially from the agency that commissioned the independent audit. So when Ms. Prahl offered an independent audit in lieu of the University audit, that only made people more suspicious . . .

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