Wake Schools Hear Bids From Companies Wanting To Conduct Outside Audit
Posted August 23, 2005 5:03 a.m. EDT
RALEIGH, N.C. — Several companies, including one run by former state Auditor Ralph Campbell, are interested in conducting an audit for Wake County schools. The audit materialized as a result of a multimillion-dollar fraud scheme at the school system's transportation department.
"It looks like an extensive audit to do," said Patrick McIntyre, a CPA for McGovern and Greene in Chicago. "You're looking at a total of 140 schools."
In all, 13 firms showed up for the prebid conference led by school board member Carol Parker. Parker said the board wants a firm to look over transactions for the last three years, along with new accounting controls.
"If there are any other pocket of fraud, we want to know now," she said.
Parker wants the outside auditor to have its work complete before the school board asks the public for more construction bond money next year.
Proposals are due Sept. 13; the audit will likely begin in October. It is not known how much the audit will cost or how long it will take.
Six school transportation employees and two managers from an parts company are caught up in the fraud investigation. They all resigned or were fired in the last year. So far, one faces criminal charges.
School officials also said an unrelated case of embezzlement turned up in a school cafeteria this year.