The audit of the Indiana Economic Development Corp. and related entities conducted by FTI Consulting found "the potential for favoritism and misuse of public funds."

Key issues included noncompliance with IEDC's confidentiality and conflict of interest policies, no-bid contracts and more.

The audit observed that the Indiana Economic Development Foundation incurred frequent and high costs associated with international business travel.

(This story has been updated to correct Chad Pittman's previous role with Purdue Research Foundation.)

Gov. Mike Braun's administration unveiled the results of an audit into the Indiana Economic Development Corp., the quasi-governmental organization that drives economic strategy for Indiana, finding a “lack of transparency and accountability in the managem

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