April 4, 2009
UST Report on Debtor Audits in 2008
The UST resumed doing debtor audits in May 2008, 1691 total audits in 2008. Here is its report for 2008, issued in March, 2009. It reports that 21% of the audits had at least one material misstatement. The Central District of California had 55 audits with 15 of those reporting at least one material misstatement.
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21%, Oh my! What the heck does that mean? Several schools of thought. One is: OK & so what did you do with that? What percentage of those lying debtors did you take further action on? That's the number I want you to show me vs. what it cost the system to ferret them out.
Posted by: Michael Caplan | Apr 4, 2009 9:29:38 PM