State Auditor Wants Access to Finance Division Records

Oct 19, 2011

Missouri Auditor Tom Schweich will push for legislation next year he said will enable his office to oversee the state’s Division of Finance without interference from state agencies or private entities.

By Marshall Griffin (Jefferson City, Mo.)

The proposed bill is, in part, the result of an ongoing legal battle with the Missouri Banker’s Association.  Schweich said the MBA is seeking to block his office from examining how the state Finance Division examined the records of a number of failed banks in Missouri.

“If the Missouri Banker’s Association is successful in shutting down performance audits, we will be the least fiscally accountable state in the United States of America. ”

Schweich said the proposed bill would clarify the State Auditor’s authority to conduct performance audits of state agencies and to have complete access to bank exam records.  The head of the MBA said granting that level of access would violate both the state constitution and the privacy of bank customers.