Victoria I read through the report by Tiffany Couch, regarding the Columbia River Crossing project.
I was an accounting /finance major in college. My understanding is this is a very, very serious report. This is from a forensic accountant! The fact that a forensic accountant was called in is serious enough.
Her report is not mean spirited, but is a complete rejection of accounting practices (or lack thereof) of this organization. From the lack of financial statements and the other myriad of infractions, I think this is a serious issue, and involves a lot of money.
A report like this in the private sector, would be a called a qualified opinion, meaning, that is not up to generally accepted accounting standards. In that case, management would immediately begin an investigation of the infractions,
and/or either terminate the persons involved, and put in place procedures and policies that clearly outlined operating procedures, and the law regarding multiple bids for services rendered, and each person would be assigned dollar amount of limits of authority, and further provide a detailed list on financial statements (government formatted) to be prepared retroactive to the beginning of this entity. Further if actual fraud is involved the prosecution of those individuals involved should begin immediately. One of the remarks in the report is no journal entries to track items for an audit trail? YOU HAVE GOT TO BE KIDDING ME HERE!
It appears to me, that financial clarity is SERIOUSLY LACKING, and procedures are either not in place, or not being followed. In any event there has been a lot of money spent here, and if actual fraud is indeed involved, then
this becomes a legal matter. In any event, I shall be watching , as I view this report as absolutely terrifying, that the States have spent these amounts of monies with this kind of a write up. Who in the world at the States are sending this organization these kinds of monies without any proper accounting? I am both speechless by this…and appalled by this. Note I did not have a dog in this hunt, so I had no foregone conclusion as to the legitimacy of this organization..but this, this is an outrage and an embarrassment.
I view this report as a complete rejection of the accuracy and legitimacy of the CRC, and I think it is very, very serious report. I think the Attorney Generals of both states should now be involved. This report is a blistering of this organization.
Joe the small business guy
Tell ’em where you saw it. Http://www.victoriataft.com