Libertarian Bob Drach, candidate for NC auditor, answers our questions
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Candidates for North Carolina state auditor
Republican Dave Boliek is running against the incumbent, Democrat Jessica Holmes. Libertarian Bob Drach is also running. Get to know the candidates with our 2024 NC Voter Guide.
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To help inform voters about the Nov. 5, 2024, election, this candidate questionnaire is available to be republished by local publications in North Carolina without any cost. Please consider subscribing to The News & Observer to help make this coverage possible.
Name: Bob Drach
Political party: Libertarian
Age as of Nov. 5, 2024: 63
Campaign website: https://www.electdrach.org
Current occupation: Accountant
Professional experience: 2020-2021 Chief Information Officer (CIO); 2006-2019 President and Chief Financial Officer (CFO); 2003-2006 Vice President; 2001-2003 President; 2000-2001 VP Operations; 1994-2000 Director; 1989-1994 Deloitte, Manager; 1985-1987 U.S. Peace Corps
Education: 1991 Certified Management Accountant (CMA); 1987-1989 Stanford Graduate School of Business, MBA; 1979-1982 The College of William and Mary, BS
Please list any notable government or civic involvement: 2011-2014 New Hanover County NC Board of Equalization and Review; 1985-1987 Tanzania Ministry of Education/U.S. Peace Corps, A-Level Physics Instructor
What would be your top priority if elected?
There is dysfunction in the Office of the State Auditor. The prior auditor resigned in disgrace and was replaced by a political appointee who the prior discredited auditor says “does not have a clue.” “No resentment,” she says. Both major party candidates are lawyers, not accountants. If it sounds like a mess, that is because it is. The solution to this politicization is a qualified, independent professional accountant to manage the Office of State Auditor. That is me.
What percentage raises should your state agency’s employees receive in the next state budget?
Compensation must remain competitive with private practice. Staffing in the Office of the State Auditor is down 20% from its peak. Rebuilding the team to audit state finances is essential. In recruiting and retaining talent, the office will comply with the North Carolina Human Resources Act, including Section 126-5.
Will you attend all Council of State meetings?
Yes, I will attend all Council of State meetings, but note that these monthly meetings were canceled four times so far this year. This is not good.
How will you work with the other nine members of the council, including the governor?
My focus will be on coordinating financial reporting and audits across state agencies, including the OSBM, OSC, Treasurer and my office.
In what areas, if any, do you believe state government is wasting taxpayer money?
It would be inappropriate for an auditor to show a bias or target a particular agency or program. That would render suspect any subsequent audit. Unfortunately, some candidates do signal their biases and in so doing show themselves to be unqualified, biased and discredited.
How would you prioritize the state programs and agencies that should be audited?
The State Auditor publishes about 115 reports each year. The majority are recurring financial audits of state colleges and universities. The remainder are mostly performance audits requested by the legislature or investigative audits suggested by a state waste, fraud and abuse tip line. Since over 60% of fraud cannot be discovered by an audit, the tip line is the most important tool for prioritizing investigations. For this reason, the auditor must also champion whistleblower protections.
How would you work to make sure politically connected people and companies are not unfairly benefiting from state spending and contracts?
Good accounting practices provide for transparency that discourages waste, fraud and abuse. The possibility of an audit creates financial discipline and strong internal controls throughout state government. Such financial transparency discourages behavior which is ethically suspect and which could violate Chapter 14 of the state code.
Is there an issue on which you disagree with your party? What is your position on that issue?
The State Constitution does not require the auditor to be an accountant, and I disagree with that. The auditor should be an accountant. It is crazy that I’m the only accountant running for State Auditor.
This story was originally published September 23, 2024 at 3:18 PM.