David R. Hancox, CIA, CGFM

I’ve worked since 1974 in the audit field with expertise in performance, compliance and financial auditing, and best practices in performing these audits. Over the course of my 37-year career in the New York Comptroller’s Office, I served as both the Director of State Expenditures and Director of State Audits. As Director of State Expenditures, I led a 220-person team responsible for auditing more than $70 billion in transactions annually. There were over 100,000 transactions per day.

I transformed this unit from a labor-intensive, clerical audit operation to a modern, risk-based professional audit unit, using the latest audit techniques, including advanced data analysis and data mining techniques, to find fraud, waste, and improper transactions. I also reduced staffing to 115 upgraded, professional staff

My team and I also revamped the State Comptroller’s audit process over the State’s $50 billion in Medicaid expenditures by bringing in advanced audit tools that increased our cost recovery efforts.

Several of the largest law firms in the world have also retained me as an expert witness. In one case, I testified in a multi-defendant arbitration before three former federal judges that resulted in a $1.5 billion award for each of the companies on whose behalf I was retained. My work was based on the management practices and internal control systems implemented by the defendants.