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Financial Audit Results in Rare Zero Findings

September 30, 2021

Hilda TunstillMotlow State Community College recently underwent a comprehensive audit, conducted by the Tennessee Comptroller of the Treasury that resulted in zero findings. While this is not unheard of, it is extremely rare.

“To achieve a zero-findings State Audit is a testimonial to the degree that the business/finance unit strives for to be accountable for student tuition dollars, grants, fundraising, and State appropriations,” said Hilda Tunstill, executive vice president for Finance and Administration at Motlow.

The Financial and Compliance Audit Report reviewed financial statements for the years ending on June 30, 2019 and 2020, and involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. The areas that were reviewed in the audit included Business Office functions, Financial Aid, Foundation Office, and Information Technology.

“I am extremely proud of the business/finance unit and realize that the campus as a whole assisted in achieving this zero-findings audit,” said Tunstill.

Internal auditing is an independent, objective assurance and consulting activity. It brings a systematic, disciplined approach to evaluating and improving risk management, control, and governance processes.

The auditor considers internal control relevant to the college’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. The audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

The college is a part of the State University and Community College System of Tennessee. This system is a component unit of the State of Tennessee because the state appoints a majority of the system’s governing body and provides significant financial support. The audit was conducted in accordance with the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States.

Motlow’s Business and Finance Department also collaborates across the College to ensure that students are aware of all of the sources of financial help. For more information, go to

 Tennessee’s Community Colleges is a system of 13 colleges offering a high-quality, affordable, convenient, and personal education to prepare students to achieve their educational and career goals in two years or less. The system offers associate degree and certificate programs, workforce development programs, and transfer pathways to four-year degrees. For more information, please visit us online at or visit Motlow at

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