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South Carolina State Auditor resigns from office

South Carolina State Auditor George Kennedy announced his immediate resignation on Thursday, just over a week after a forensic report revealed a $1.8 billion surplus that was largely an accounting error.
The report by AlixPartners found that about $1.6 billion of the surplus never existed, while $200 million was real but had been spent without proper accounting.
Governor Henry McMaster stated that he does not blame any one person for the situation and maintains confidence in State Treasurer Curtis Loftis.
Kennedy's resignation letter emphasized that it is in the best interest of the Office of the State Auditor for him to resign from his position.

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WYFF

State auditor resigns over $1.8B error in South Carolina finances

The state auditor of South Carolina has resigned amid ongoing issues related to a $1.8 billion accounting error.

28 days ago·Greenville, United States

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Washington Examiner

South Carolina auditor quits as treasurer vows transparency after $1.8 billion error - Washington Examiner

In South Carolina, the fallout from a $1.8 billion accounting error cost the job of the state auditor, while the state treasurer is vowing to push forward with a promise of transparency. An independent audit released earlier this month found that $1.8 billion in funds thought to be in a bank account never existed, with $1.6 billion of that total being the “result of incorrect journal entries,” while the remaining $200 million was “already includ…

29 days ago·Washington, United States

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The State

South Carolina Auditor Resigns Amid Controversy Over State’s $1.8B Accounting Error

State Auditor George Kennedy III, who has been caught in the middle of the state’s accounting issues, including over whether a mysterious $1.8 billion existed, resigned from his job Thursday.

29 days ago·Columbia, United States

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The Post and Courier

South Carolina state auditor resigns amid $1.8 billion accounting scandal

South Carolina auditor George L. Kennedy has resigned Jan. 23 following allegations his office failed to report billions of dollars worth of accounting errors.

1 month ago·Charleston, United States

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WBTW

South Carolina State Auditor resigns after 9-plus years in office

COLUMBIA, S.C. (WSPA) South Carolina State Auditor George Kennedy resigned from office Thursday in a letter to Gov. Henry McMaster and the State Fiscal Accountability Authority. In the letter, Kennedy, who has served in the position since October 2015, said it was "an honor and a privilege to serve the State of South Carolina during the past nine years." "However, I believe that it is in the best interest of the Office of the State Auditor that …

1 month ago

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Live5News

SC auditor resigns following release of report on nonexistent $1.8B surplus

The state auditor for South Carolina announced his immediate resignation Thursday, just over a week after the release of a forensic report on an alleged $1.8 billion surplus.

1 month ago

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