Firm begins audit of Foundation Foundation board says motive behind probe is administrative ʻgrudgeʼ

An audit of the Foundation for Pierce College, first approved by the Pierce College Council budget committee in March, reportedly began before the PCC voted to approve the investigation into the foundation’s finances.

The probe is being conducted by the same firm that performs the foundation’s required annual audits, including its 2014 assessment. Senior board

Director Floriya Borzenkova and board Chair Denise Robb of the foundation said they are confused by the reasons for this new audit, and said they don’t understand why it is happening.

“They employed the same company that audited us the last two years,” said Borzenkova. “A man from the accounting firm came to our office before the approval from PCC. I gave him our financial statements, and he has our books, but I haven’t heard from him.”

Robb said it was “strange” to have a second audit so soon, and to use the same firm to execute it.

“They just audited us three months ago and it was fine, but now they hired the same company to audit us again,” she said. “If the same company finds anything then they should sue themselves because they’re the ones who just did our audit.”

Pierce College President Kathleen Burke said this audit differs from the required audits conducted annually.

“There are different types of audits,” Burke said. “A general audit is conducted every year, but now a forensic audit is taking place to address questions and allegations regarding millions of dollars that were donated to the foundation. What happened to that money?”

The budget committee