Great Park Audit Blues Redux

In 2014 and 2015, the Irvine City Council commissioned audits of the Great Park by the accounting firm Hagen, Streiff, Newton & Oshiro (HSNO) that concluded some firms contracted to work on the long-delayed project got improper contracts or couldn't account for millions of dollars spent. One of them, Gafcon, filed a complaint with the California Board of Accountancy shortly after, and the Board just blasted HSNO's audits in a report released this week. They found that the firm violated numerous public accounting standards and are recommending the firm reimburse the state for its investigation of their audits, pay a penalty, and have its license suspended, restricted or revoked.

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