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Audit of Oklahoma agency cites lack of safeguards

Friday, 19 Oct 2012 | 10:51 AM ET

OKLAHOMA CITY -- Oklahoma's chief auditor says he's found a lack of financial safeguards at the Commission on Marginally Producing Oil and Gas Wells.

Auditor and Inspector Gary Jones says an operational audit released Thursday cites the agency for not implementing a system of checks and balances to safeguard public assets.

Jones says it's the third consecutive audit in which auditors have found a lack of internal controls at the agency. He says the audit found negligence by management at the commission that allowed abuse and potential fraud resulting in questioned costs of more than $10,000.

The audit recommends that the Legislature consider consolidating the agency and its mission with another agency to improve oversight.

The agency's executive director, Jim Revard, did not immediately return a telephone call seeking comment on the audit.