Accountants investigate association finances

M@WSA
5 December 2002

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Daily and educational media
Immediate

Accountants investigate student association finances
[175 words]

The Massey Wellington Students Association has asked auditors to investigate apparent irregularities in the association’s finances.

President Melanie Borich said the association’s bankers alerted her on Tuesday evening about concerns they had about some of the association’s recent transactions. The following day, accountant Stephen Brokenshire of Curtis McLean was hired by the association to do a thorough investigation.

“We have the full co-operation of the bank and accountant, who were informed immediately,” she said.

The association is audited each year by Audit New Zealand. It had a ‘clean’ audit report for the year-ended 31 December 2001.

Internal accounts also showed the association to be in a healthy financial position for the six months ended 30 June 2002.

Ms Borich said the apparent irregularities were being taken extremely seriously by the association.

“We fully appreciate that our members have a right to know what is happening. We will release more information as soon as the facts become available.”

[ends]

Melanie Borich, president, Tel 04 801 2540, or 021 630 107
m.j.borich@massey.ac.nz

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