Story courtesy of The City Maven.
By Alice M. Walton
Controller Wendy Greuel announced this morning that she will audit the Los Angeles Memorial Coliseum in light of financial problems and atypical salary requests, and now members of the Coliseum Commission have responded with questions of their own.
In a letter to the controller, the Coliseum Commission’s president and vice president, David Israel and county Supervisor Don Knabe, question whether the audit will be completed using Generally Accepted Accounting Principles. The two also ask whether city auditors or a private firm will conduct the audit.
“By providing this additional and essential information, the commission can better understand the potential impacts of the proposed city controller’s audit on the commission’s own audit and reorganizations efforts,” according to the letter.
Israel and Knabe note that there are pending investigations by the District Attorney’s Office and Fair Political Practices Commission, in addition to an internal investigation of potential wrongdoing.
“The commissioners trust that you share our committed and earnest desire to balance the need for critical self-reflection with the top priority of protecting the integrity and confidentiality of the active criminal and civil investigations,” the letter concludes.
According to Greuel, the audit will look at internal and management controls on financial decisions. She will look at financial operations from 2009 to the present.
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