RICHMOND, Va. (WRIC) — Richmond erroneously paid twice for more than $5 million worth of goods and services due to weak internal controls, according to a new report.
On Monday, May 11, Richmond’s Office of the City Auditor (OCA) released the findings of its review of the city’s payment transactions for fiscal years 2024 and 2025. This review aimed to identify any duplicate transactions, or instances where the city wrongly paid twice for the same product or service.
Per OCA, duplicate transactions are an “inherent risk” of doing business, especially for larger organizations that process many payments, such as Richmond. By putting the proper safeguards in place, organizations can minimize this risk — but Richmond’s internal controls were found to be lacking…