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The past two weeks have seen an uproar surrounding the consultants from Kroll Inc., who staff the city’s audit committee.
The audit committee, who have been paid $20.3 million over the last year and a half to complete an investigation into City Hall finances, were accused last week by Mayor Jerry Sanders of taking a desperate city hostage.
He accused the consultants of leveraging their independence to pad their bills and said the imposition of the Sarbanes-Oxley Act on municipalities must be rethought by Congress.
Here’s a couple of stories we’ve done in the history of the audit committee that will give you more background on the issue: one about the city being held to the standards of the Sarbanes-Oxley Act (also known as SOX), titled “This Really SOX,” and another about billing and SOX titled “Not Requesting, Insisting.”