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Firm To Investigate State's Accounting Errors

Last updated on Tuesday, June 5, 2012

(INDIANAPOLIS) - The state of Indiana has hired an accounting firm to investigate how the state lost track of more than $500 million in tax revenue.

The State Budget Committee hired the firm Deloitte to investigate the Indiana Department of Revenue.

The review follows three cases of the mishandling of funds. Indiana found $320 million of misplaced money late last year.

Earlier this year, it found another $206 million. And last month, money managers realized they paid some Indiana counties too much and others not enough.

The review could take up to six weeks.

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