AP audit reveals outside accounts, inadequate record-keeping at Nebraska college

A recent accounts payable audit revealed a plethora of possible National Collegiate Athletic Association (NCAA) violations at Nebraska's Chadron State College, the Rapid City Journal reports.

The AP audit was conducted after the college identified inconsistencies in its financial records. Head football coach Bill O'Boyle was found to have set up outside accounts and engaged in a number of suspect transactions, including payments to players, recruits and football camp participants.

The auditing firm noted that it flagged the activities as potential violations because the NCAA has the final say. In total, three accounts were discovered that were used by O'Boyle and his staff without college oversight.

"Approximately $22,000 was withdrawn as cash but because documentation is not complete, it is not possible to determine if the funds were used for the purported purposes," auditors wrote, as quoted by the news source.

In order for an accounts payable recovery audit to be conducted effectively, the correct documentation procedures need to be in place. Without adequate record-keeping measures, it's a lot more difficult to identify instances of embezzlement or good faith mistakes.  

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