GALLUP, N.M. — An audit of 23 of the Navajo Nation’s 110 chapters has found that mismanagement cost the tribe $10.8 million in lost revenue related to internal controls and compliance with Navajo, state and federal laws.
The Gallup Independent reports (http://bit.ly/1hoDjlp ) that according to the audit presented by the Navajo Nation Office of the Auditor General, the bulk of that lost revenue came from deficiencies in internal controls.
The 23 chapters were audited between 2012 and 2015.
The auditors reported that the chapters lost the largest portion to incomplete fixed asset inventories, which showed 31 audit problems amounting to more than $2.9 million. Auditors found the chapters had incomplete property inventories, unreported assets in financial reports, uninsured property and other issues.
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Information from: Gallup Independent, http://www.gallupindependent.com
