External auditors present preliminary 2024–25 audit, say scope differs from forensic review
Auditors from Carr Riggs & Ingram presented preliminary audit data for 2024–25, explained that financial audits differ from forensic investigations and told trustees they had not encountered indicators requiring fraud referral at this stage.
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Representatives from Carr Riggs & Ingram presented preliminary audit figures for the 2024–25 fiscal year and explained to trustees the difference between a standard financial audit and a forensic audit. The auditors said their work so far supports a general fund figure near $198 million before adjustments and that they are still performing audit procedures; they cautioned that the financial audit focuses on materiality and fairness of financial statements rather than investigating fraud by default.
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