CTAS has released a new 10-year study examining the impact of the Certified County Finance Officers (CCFO) Training Program on Tennessee county audit results.
The study reviewed audited financial statements and findings for all 95 Tennessee counties from FY 2015 through FY 2024, comparing the five years before the program’s first graduates with the five years after. Statewide audit findings declined 25% between the two five-year periods, while the most severe findings — material weaknesses and significant deficiencies — decreased 34%.
14%
Decrease in total audit findings
FY 2019 vs FY 2024
34%
Decrease in severe findings (material weaknesses & significant deficiencies)
592
CCFO graduates produced across four cohorts, FY 2020 to FY 2024
The study also examined other factors that influence audit results, including accounting structure, county population, department type and fraud risk. Among its findings, counties with fully or partially centralized accounting consistently had fewer audit findings than non-centralized counties, with the differences particularly significant among smaller counties.
Overall, the study points to both CCFO training and centralized accounting as important components of strong county financial management, with the greatest improvements occurring when the two are combined.