COLUMBIA, SC - Reports that the state had $1.8 billion sitting somewhere in an account have been found to be false.

This is the finding of an independent forensic audit. In addition to the surprise results of the findings, people are looking into the future of South Carolina treasurer Curtis Loftis.

According to the findings of the audit, the accounting error added up over several years. “It was an accounting error with no criminal conduct, no wrongful intent, no intent to make the error — errors sometimes happen and, unfortunately, that was a big one,” said Governor Henry McMaster.

Although this audit which cost the state millions of dollars is not the final word on this issue, the results leave people with more questions than answers.

Much of the concern centers on the state treasurer, Curtis Loftis. Last year, Loftis testified he invested money in the alleged $1.8 billion account. Loftis claimed the investment netted $200 million in interest for the state. However, Republican state senator Larry Grooms, who's leading a committee investigating the issue, says there is no money in that account.

“The citizens of South Carolina can be confident that their money is safe,” Loftis said. "We, along with our state partners, look forward to reviewing the report in its entirety.”

Investigators from the securities and exchange commission are investigating if this was an honest mistake or a cover-up.