What a state audit reveals about the IEDC, Elevate Ventures and more

Gov. Mike Braun’s administration last week released an audit the governor ordered last spring of the Indiana Economic Development Corp. — the state’s job creation agency — and related organizations, including the IEDC’s foundation as well as Elevate Ventures, the Applied Research Institute and other groups.

From the beginning, the governor and Commerce Secretary David Adams referred to the review as a “forensic audit,” a term generally used when fraud or legal irregularities are expected. But the Governor’s Office said the review uncovered nothing criminal.

Still, the auditors included dozens of findings in their report, including situations involving conflicts of interest, poor documentation and a lack of transparency.

IBJ Editor Lesley Weidenbener talks with IBJ reporter Susan Orr, who has been following the issue for months, about what the audit found and what the results mean for several organizations.

You can read more coverage of the audit at IBJ.com.