Wonder how this will effect their probation period into D1.

 

My guess it will have zero impact.

My guess it will have zero impact.

 

miss appropriations of athletic funds will have zero impact?

miss appropriations of athletic funds will have zero impact?

 

Not when we're dealing with such an immaterial amount.

Wonder how this will effect their probation period into D1.

I agree with Clyde. If NKU does the correct things, as well as make an example out of him and not recommend a reduced sentence, then they should be okay.

The Northerner ‏@northernermedia 3m

BREAKING: @PresidentMearns announces former AD Scott Eaton diverted up to $150,000 of university funds for personal use

 

My understanding is more news than this will come out in the near future.

 

FOI requests are being made.

 

Not when we're dealing with such an immaterial amount.

 

when did $150,000 missing become immaterial.

when did $150,000 missing become immaterial.

 

It depends on the total value of the athletic department funds, but my guess at a university as large as NKU, it's an immaterial amount.

 

Huge mega-corporations will have misstatements in their financials of 10 times that, that auditors will find, and won't bother having the correct due to the immateriality of it in relation to the financials as a whole.

It depends on the total value of the athletic department funds, but my guess at a university as large as NKU, it's an immaterial amount.

 

Huge mega-corporations will have misstatements in their financials of 10 times that, that auditors will find, and won't bother having the correct due to the immateriality of it in relation to the financials as a whole.

 

What auditors are those, we need to hire them where I work, we cant have a penny in the wrong account, let alone 150K

What auditors are those, we need to hire them where I work, we cant have a penny in the wrong account, let alone 150K

 

Every auditor there is. :lol:

 

Obviously every company wants to be as accurate as possible with their accounting practices, but in reality none are. There are calculations and other factors that auditors use to assess (based on the company's assets, revenues, etc.) what amount constitutes a material misstatement. I have no clue what NKU's financials look like, but I'd venture they're at a point where $150,000 would not be considered material.

It depends on the total value of the athletic department funds, but my guess at a university as large as NKU, it's an immaterial amount.

 

Huge mega-corporations will have misstatements in their financials of 10 times that, that auditors will find, and won't bother having the correct due to the immateriality of it in relation to the financials as a whole.

 

My aging memory tells me NKU's athletics budget is $8M.

Every auditor there is. :lol:

 

Obviously every company wants to be as accurate as possible with their accounting practices, but in reality none are. There are calculations and other factors that auditors use to assess (based on the company's assets, revenues, etc.) what amount constitutes a material misstatement. I have no clue what NKU's financials look like, but I'd venture they're at a point where $150,000 would not be considered material.

 

We can debate the material v immaterial aspect but I can tell you from a PR standpoint it's not immaterial. It's a stain on the university for hiring someone that many considered to be over his head when he got hired.

 

miss appropriations of athletic funds will have zero impact?

 

One mans actions won't be the downfall of an entire university. They gain nothing by punishing NKU.

We can debate the material v immaterial aspect but I can tell you from a PR standpoint it's not immaterial. It's a stain on the university for hiring someone that many considered to be over his head when he got hired.

 

Oh, don't get me wrong, I completely agree. I'm saying in terms of their probationary period for D-I, it being such an immaterial dollar amount won't hurt them. From a PR aspect, it's a nightmare.

 

It depends on the total value of the athletic department funds, but my guess at a university as large as NKU, it's an immaterial amount.

 

Huge mega-corporations will have misstatements in their financials of 10 times that, that auditors will find, and won't bother having the correct due to the immateriality of it in relation to the financials as a whole.

 

Good point, there's another thread about SK missing 50kish. Over the course of a few years its easy to do.

 

My aging memory tells me NKU's athletics budget is $8M.

 

So we could be talking less than 1% over a few years. Doesn't make it less of a crime but certainly easier to get away with.

Eaton admitted to the crime.

 

The Northerner : Eaton used ?deceptive means? to divert $100,000-150,000 from university for personal use