A group of "concerned" IHFA members want the organisation to "disclose" all consultancy contracts, invoices and advisers linked to its proposed GenÉireann project.
As part of the GenÉireann project, IHFA has outlined proposals to set up a new company, and develop a nucleus herd and an IVF breeding service.
However the proposed GenÉireann project has sparked a strong reaction from some "concerned members" of the association, which this year celebrates its 60th anniversary.
These members called for the IHFA to hold an Extraordinary General Meeting (EGM) and this is now set to take place on Thursday, November 27.
The concerned members also claim that the GenÉireann proposal document released ahead of the EGM proposal has undergone a significant change in tone compared to an original internal proposal.
They claim it has gone from "commercial to co-operative and breeder-orientated".
The members have also claimed there has been minimal operational information provided, along with limited financial information, and a reduced commercial focus in relation to the proposal.
These concerned members have alleged that the CEO has no 'independent legal authority to call or alter an EGM agenda', and only the board or requisitioning members may convene the EGM.
The members have further expressed their frustration with the EGM notice, saying it "failed to provide members with a voting opportunity, despite the formal requisition demanding one".
The concerned members have requested the immediate disclosure of all consultancy contracts, invoices, and advisors linked to the project and an independent governance review by a neutral body or the Charities Regulator.
The group also believe that action is required to "restore transparency, accountability, and compliance" within the IHFA.
Meanwhile, in relation to claims that the NCBC logo was incorporated into the GenÉireann logo, the National Cattle Breeding Centre (NCBC) chief Doreen Corridan has told Agriland that the NCBC is not involved in the project.
Corridon said: "I can categorically confirm that no discussions, meetings or proposals were had between NCBC and the IHFA.
"Also I confirm that our shareholders Munster Bovine and Progressive Genetics have not had any discussions or meetings with the IHFA."
Separately the Irish Cattle Breeding Federation (ICBF) has also confirmed to Agriland that "they have been made aware of the project but have no involvement in it at present."