NC Central University audit reveals more than $45 million in errors

DURHAM, N.C. (WTVD) -- An audit at NC Central University reveals more than 45 million dollars in errors.

According to the North Carolina State Auditor's Office, the audit showed the university's financial reporting was "grossly inaccurate."

The state also said the university fell "far short" of the standards expected at educational institutions.

Among the errors was an overstatement of the university's expenses on supplies and services. There was also an overstatement of its' cash by $4.9 million because of inaccurate journal entries

NCCU released a statement, saying in part:

"The scope of the audit pertains to a time prior to the current administration. While the identified issues are concerning, current leadership is taking decisive action to address them."