Universities

Financial Investigation

As part of their responsibility to prevent and detect fraud, Arizona State University (ASU) officials took appropriate action by reporting to us alleged financial misconduct by Carlos Urrea, former University Technology Office (UTO) manager of information technology. Our investigation revealed that from June 2017 through December 2021, Mr. Urrea may have embezzled $124,093 when he used his ASU purchase card (p-card) to make 810 unauthorized personal purchases. To help conceal his scheme, Mr. Urrea submitted for processing 347 forged receipts and 358 false p-card business purpose descriptions, making it falsely appear as if the purchases were for valid ASU purposes. We have submitted our report to the Maricopa County Attorney’s Office, which on December 1, 2023, presented evidence to the Maricopa County Superior Court Grand Jury. The action resulted in Mr. Urrea being indicted on 14 felony counts related to theft, misuse of public monies, fraudulent schemes, and forgery.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Annual Comprehensive Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Annual Comprehensive Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Annual Comprehensive Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Annual Comprehensive Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Annual Comprehensive Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Annual Comprehensive Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Annual Comprehensive Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Annual Comprehensive Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Annual Comprehensive Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Comprehensive Annual Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Comprehensive Annual Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Financial Audit

Annual financial and compliance reports: State and federal laws require Arizona universities to receive annual financial and compliance audits, resulting in these required reports:

  • Comprehensive Annual Financial Report includes our opinion on the reported financial information’s reliability. 

  • Report on Internal Control and on Compliance includes any findings we reported over financial reporting and explains our responsibilities.

Our Highlights summarize these reports.

The results of our audits of the university federal financial assistance programs are included in the State of Arizona’s annual Single Audit Report.

Performance Audit

The Arizona Board of Regents (ABOR) is the governing body of the State’s 3 universities—Arizona State University, Northern Arizona University, and the University of Arizona. Statute authorizes ABOR to own and lease its property for the benefit of the State and for the universities’ use, and it has approved leases for commercial purposes. However, ABOR’s lack of written guidance for implementing its real estate policies and approving commercial subleases increases the risk of inappropriate use of public resources leased to private parties. Also, the operation of some ABOR property lacked oversight and accountability, resulting in the inappropriate use of proceeds and limited transparency. Finally, ABOR lacks a complete property listing and other property management information, limiting its ability to oversee and manage its property.

Financial Report User Guides

This users guide can help decision-makers identify and understand the important information presented in government internal control and compliance reports.

Financial Report User Guides

This users guide can help decision-makers identify and understand the important and useful information presented in college and university financial reports.