An audit reportedly has found problems in the National Cattlemen’s Beef Association spending records.
“The spot review found, over a two-and-a-half-year period ending in February, tens of thousands of dollars of expenditures that were either improperly charged to the marketing fund or lacked adequate documentation. The results were deemed serious enough that a second, more comprehensive review of the association has been ordered,” according to an article published in The New York Times.
Steve Foglesong, NCBA President and producer from Illinois, issued the following initial statement on July 27:
“On Monday evening, July 26, we received the independent accountant’s final report. We are committed to achieving accuracy in this report. Responsible use of the producer dollars and ensuring the financial firewall are critical. Where mistakes were made, we will correct them.
“A compliance review has been conducted every year of NCBA’s 14-year existence. There has been a transparent as well as full reconciliation of expenses when warranted. Every time there is a review, there are lessons, and we consider those an opportunity to fine-tune our processes going forward.”
Source: The New York Times and Drovers