Following public and legislative scrutiny over transparency and the management of public funds at the Indiana Economic Development Corporation (IEDC), the Indiana Office of the Secretary of Commerce initiated a comprehensive internal evaluation. The assessment uncovered potential ethical breaches, instances of self-interest, possible conflicts of interest, and deficiencies in governance and compliance monitoring. To strengthen accountability, FTI Consulting was brought in to carry out an in-depth forensic examination of fund flows, the mixing of financial resources, and oversight mechanisms. The firm also evaluated existing internal controls, policies, and operational procedures to pinpoint weaknesses, suggest improvements, and propose measures to reduce future risks.
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Restoring Indiana Economic Development
Following media and lawmaker concerns about transparency and the usage of taxpayer dollars at the Indiana Economic Development Corporation (\”IEDC\”), the Office of the Secretary of Commerce of the State of Indiana conducted a series of internal reviews into the group. The reviews revealed allegations of ethics violations and self-dealing, potential conflicts of interest (\”COIs\”) and gaps in governance and compliance oversight. FTI Consulting was engaged to conduct a thorough forensic analysis into flow of funds, commingling of funds and financial oversight at the IEDC and to assess internal controls, policies and processes to identify areas for improvement and recommend enhancements to address gaps and mitigate risks. n nOur Role