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Financial Misstatement

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politics2 years ago

South Carolina's Top Accountant Resigns Over $3.5B Error.

South Carolina's Republican Comptroller General Richard Eckstrom will resign next month after a $3.5 billion error in the year-end financial report he oversaw. The Senate panel investigating the financial misstatement issued a damning report last week accusing Eckstrom of “willful neglect of duty.” The governor accepted the resignation, effective April 30. The Senate report concluded that Eckstrom was solely responsible for the mapping error, which happened during the state’s transition to a new internal information system from 2011 to 2017.