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Student association lays complaint with police

Student association lays complaint with police over missing funds

The Massey Wellington Students Association (M@WSA) has laid a complaint with the police over irregularities it has uncovered in its finances.

President Melanie Borich said a two-week investigation has revealed that money is missing from the association’s accounts and debts have been incurred without authorisation.

Ms Borich says the association’s bankers alerted her two weeks ago about concerns they had about some of the association’s recent transactions. The association hired accountants Curtis McLean to do a thorough investigation.

“That investigation has shown that unauthorised debts have been run up in recent months. Money is also missing from our bank accounts.

“We are still investigating these irregularities, but it could take two months before we have a full picture of what has happened.

“We would like to clarify that it was M@WSA that contracted the accountants and it is a financial investigation not an audit.

"We have already spoken to the police, and will provide information they can use if they launch a criminal investigation.”

Ms Borich says this is a blow to the association.

“Fortunately, we will have some income in January, which will be a huge help at the beginning of the year. We intend to provide all services as normal.

“We will also definitely be able to run events such as the orientation programme at the beginning of next year.

“We are now addressing the debts that have been incurred in the association’s name, and will be speaking with our creditors about a payment programme.

“We would like to hear from any creditors who have not been in touch with us in the past week."

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.

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