Latest SU System financial audit clean
- 4/8/2013 -
The Southern University System's State Legislative Audit for the fiscal year ending June 30, 2012, was clean as indicated in a recent Louisiana Legislative Auditor financial statement audit report.
According to Kevin Appleton, SU System vice president for finance and business affairs and comptroller, all prior year findings were substantially, or completely, resolved.
"There was an unqualified opinion on the System's financial statements and there were no reportable findings on internal control, or compliance with laws or regulations for FY 2011-12," explained Appleton.
The report states, "The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards."
"This is the first time in recent history that the Southern University System has completed a financial statement audit without any findings. We must sustain (and improve upon) this level of performance, even as we move forward with efforts to reduce costs, improve efficiency and service, and enhance accountability throughout our business and support operations," said Appleton.
The SU System's A-133 compliance audit report for the year ended June 30, 2012, also was clean. There were no formal findings in the annual compliance audit as reported by an independent certified public accountant.
Over the past couple of years, the SU System has moved to centralize internal audit, institutional research, human resources, information technology, and back office business and support functions. These changes have improved efficiency and effectiveness, and have helped to eliminate repeat findings in federal and state audits.