On Monday, KPMG claimed that only six concerns remained outstanding before the firm would issue an audit of the city’s overdue 2003 financial reports. The audit’s imminence was near, a KPMG official predicted, and the city could expect to close the books on 2003 by Feb. 16.
But Deputy Auditor & Comptroller Greg Levin told the council’s Budget and Finance Committee this morning that the list of six concerns has grown to 39 after KPMG submitted a response to the city’s Jan. 5 draft of the audit this week.
City officials have complained that KPMG’s practice gives the appearance that many of the firm’s criticisms are new, but in reality are simply revisited from earlier versions after being skipped over for many months.
Levin said he would release a status report of the audit Friday.