UAW institutes financial reforms amid corruption probe
UAW president resigns: Report
FOX Business’ David Asman and Kristina Partsinevelos, former investor Carol Roth, FoxNews.com columnist Liz Peek and Kingsview Asset Management’s CIO Scott Martin discuss Gary Jones’ departure as the president of the UAW and bribes the UAW allegedly accepted from Fiat Chrysler.
The scandal-plagued United Auto Workers announced a series of financial reforms Monday as the fallout from a federal corruption probe continues.
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UAW Secretary-Treasurer Ray Curry said the UAW is "committed to putting in place checks and balances and accounting reforms that prevent financial malfeasance."
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"This top-to-bottom assessment of our financial and accounting procedures and policies will result in a stronger and more stringent financial oversight of all expenditures and financial transactions," Curry said in a statement. "With the support of our entire International Executive Board, we will keep the membership and staff updated on our progress and changes."
The financial reforms the UAW is pursuing include hiring four more auditors and engaging Deloitte to conduct a "complete assessment" of the organization, including the UAW Golf Course and Black Lake Education Center.