Firm Auditing City Says Further Delays Likely
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The firm hired to complete the city’s long-delayed 2003 audit says significant obstacles could further delay its work.
The audit is being done by accounting firm KPMG. Completion of the report would allow the city to continue borrowing money at reasonable rates.
Auditors said concern remains because the city’s pension board refuses to release privileged documents, the city attorney’s office has not turned over all related documents, and an official with the firefighters union may have pertinent documents.
The U.S. Securities and Exchange Commission, the U.S. attorney’s office and the FBI have been investigating San Diego’s finances since February 2004.
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