A complete audit of the S.C. Retirement System Investment Commission and its internal policies should be undertaken by an outside firm as a result of last week’s discussion before the state Budget and Control Board. This discussion came only days after commission chairman Reynolds Williams became the focus of investigations by both SLED and the S.C. Ethics Commission.

The commission is responsible for making the investment decisions for the state’s $25 billion public retirement investment fund. In addition to tracking the funds themselves, an audit of risk assessment, due diligence, evacuation and cross trades, among other things, should be looked at by outside professionals.