South Carolina Comptroller General Richard Eckstrom is facing calls for his termination after an accounting error resulted in an overstatement of the state's cash position by $3.5 billion, raising questions about the accuracy of the state's financial reporting.
South Carolina Comptroller General Richard Eckstrom is facing calls for his termination following a major accounting error that resulted in an overstatement of the state's cash position by $3.5 billion.
The mistake, which occurred when Eckstrom reported the amount the state had sent to colleges and universities, was first revealed last month in a report to lawmakers. On Wednesday, a special legislative committee released a report recommending Eckstrom's firing and a complete overhaul of the office he runs.
The committee also suggested a $12 million audit of the comptroller's office to ensure there are no further errors.
In response to the report, Eckstrom released a statement saying he was "deeply sorry" for the mistake and that he had taken steps to prevent similar errors in the future. He also noted that the error had not caused any financial harm to the state.
Despite Eckstrom's apology, Republican South Carolina Governor Henry McMaster has called for his termination, saying the mistake was "unacceptable" and that the state must have "accountability and transparency in government."
It remains to be seen whether Eckstrom will be fired or if the legislature will accept his apology and move on. However, the incident has raised questions about the accuracy of the state's financial reporting and the ability of the comptroller's office to handle its responsibilities.
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Original title: SC lawmakers want to fire comptroller for $3.5B error
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