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NC Audit Flags Reporting Gaps Across State Agencies
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Subscribe08 APR 2026 / BUSINESS
North Carolina has completed its first audit of federal grants without any material noncompliance in over two decades. However, the audit has revealed reporting gaps, internal control weaknesses and lack of visibility in federal spending accounting for nearly $28 billion in grants and $43.9 billion in total expenditures, illustrating a systemic issue in handling such vast amounts of funding.
Imagine reviewing a set of financials that come back with a clean opinion, no major red flags, everything neatly tied up. At first glance, it feels like a win. That’s exactly where North Carolina finds itself. For the first time in over two decades, the s...
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