Audit Scenarios

Now that the BOF has chosen an audit firm, let us examine the possible scenarios. First, the auditors find nothing wrong. Given the Gamm Report, this is unlikely but it is possible. Second, the auditors find the state was over billed. This is the likely scenario. The next question is by how much? There is a third scenario that, in some ways, is more troubling. Suppose the auditors find fraudulent billing but the idiots in the school administration under billed the state. They committed fraud but defrauded the school system by under biling the state. They included phony names for billing purposes but didn't do enough phony billing. Can you defraud yourself? If someone commits fraud in the middle of a forest and there is no one around to be defrauded except the defrauder, is it fraud? Stay tuned. Walter Casey.