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Grant Thornton Finds No Fraud in Fullerton’s $2.9M Accounting Error
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Subscribe22 JUN 2026 / ACCOUNTING & TAXES
Independent auditors from Grant Thornton Advisors LLC found that Fullerton’s $10 million reserve controversy stemmed from weak oversight, poor budget presentation, and an accounting error rather than fraud. The firm's review revealed a series of control failures, inadequate reporting, and governance issues within the city’s budgeting process.
A city budget can look healthy until someone asks one basic question: “Can we reconcile that number?” That question now sits at the center of Fullerton’s $10 million reserve controversy. An independent review by Grant Thornton Advisors LLC found that the...
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