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June 01, 2011


DiNapoli to Audit SUNY Research Foundation

State Comptroller Thomas P. DiNapoli today announced he has initiated an independent audit of the State University of New York (SUNY) Research Foundation.  DiNapoli said the audit would examine a wide range of issues including hiring, compensation and potential conflicts of interest, as well as the financial relationship between SUNY and the Foundation.

“The Research Foundation can use a little sunlight,” DiNapoli said.  “We have to ensure that there’s a culture of ethics, integrity and accountability.

“We’re sending in a team of auditors, including staff from our fraud unit.”

DiNapoli said the audit will be a broad based review of Research Foundation functions and financial transactions, and will include a focus on issued raised in prior Comptroller audits.  Earlier today, DiNapoli’s office sent an audit engagement letter to SUNY Chancellor Dr. Nancy Zimpher.  

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