JOHNSON CITY – (Feb. 27, 2020) A recent financial and compliance audit of East Tennessee State University conducted by the Tennessee Comptroller of the Treasury resulted in no findings or recommendations. The report was released by the Division of State Audit Feb. 27.
Conducted annually, the audit was for the July 1, 2018 – June 30, 2019 fiscal year. All state agencies are required to undergo this audit each year.
According to ETSU Chief Financial Officer Dr. B.J. King, the audit reviews the institution’s
financial procedures and intern
al controls and evaluates how the university is complying with federal funding regulations.
“We were very pleased with the outcome of the report,” King said. “This is an extensive audit that is conducted over the course of several months and it reviews financial procedures at all levels of university operations. The fact that the audit resulted in no findings or recommendations communicates that the institution is following federal regulations very closely and that we have strong internal controls in place.
“It is also reflective of the diligent efforts of our faculty and staff to ensure
compliance with these regulations.”
“This is an extensive audit that is conducted over the course of several months and
it reviews financial procedures at all levels of university operations. The fact
that the audit resulted in no findings or recommendations communicates that the institution
is following federal regulations very closely and that we have strong internal controls
in place. It is also reflective of the diligent efforts of our faculty and staff to
ensure compliance with these regulations.”