House Speaker Murrell Smith has pledged investigations into South Carolina Treasurer Curtis Loftis' handling of a $1.8 billion accounting error made by his office that was allowed to fester for years.

I think it’s important to note, this is not any fraud, this is not a misrepresentation, that this is just incompetence, in errors that have occurred over a period of time,” SC House Speaker Murrell Smith said.

In the wake of a report that South Carolina’s financial leaders allowed a $1.8 accounting blunder to linger on the state’s ledger for nearly a decade, one House Democrat is calling for the impeachment of state Treasurer Curtis Loftis.

South Carolina lawmakers are calling for the state treasurer to be impeached after an independent audit found that a suspected $1.8 billion thought to be in a state bank account never existed. The results of the audit,

It turns out that $1.8 billion in South Carolina state funds weren’t just sitting in a bank account waiting to be spent. Instead, it was an accounting error compounded over years instead of being reconciled,

State legislators are weighing in now following the independent forensic audit by AlixPartners determined that accounting errors compounded over years, instead of being reconciled, were responsible for what had been reported to be $1.