Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Serious Fraud Office Asked To Investigate Union Finances

11 April 2012
News Release

Serious Fraud Office Asked To Investigate Union Finances

Affco New Zealand Limited today confirmed that it has laid a complaint with the Serious Fraud Office, on behalf of its workers, to investigate the financial accounts of the New Zealand Meat Workers and Related Trades Union.

Affco is required to deduct the Union fees from staff wages and pay that money to the Union. Affco CEO, Hamish Simson says from what the company has seen the Union is not complying with its statutory reporting requirements and there appear to be irregularities in the Union’s financial accounts.

“It appears from the Union’s published financial statements that only a fraction of its total income has been declared. Affco workers contribute over $500,000 to the union each year, paying $5.95 each per week. Affco workers represent less than 10% of the 23,000 members the Union says it has and yet it only declares revenue of just over $700,000 per annum”.

Mr Simson says the union has failed to disclose what has been done with the contributions Union members have made. “In the last 5 years alone tens of millions of dollars of workers’ wages have been deducted by the Union across New Zealand and paid into what appears to be a black hole. The Union’s accounts provide no level of comfort."

“More and more of our staff are starting to question where their money has gone.

With the Union now asking the public for donations, every workers’ dollar must be accounted for,” he said.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Energy Resources Aotearoa: New Law On Decommissioning Could Be Costly Overkill
A new law on decommissioning oil and gas fields passed by Parliament today has good intentions but is overkill, according to Energy Resources Aotearoa. "We strongly support operators taking responsibility and paying the costs for decommissioning, which is what all good operators do," says chief executive John Carnegie... More>>


Commerce Commission: News Publishers’ Association Seeks Authorisation To Engage In Collective Bargaining

News Publishers’ Association of New Zealand Incorporated seeks authorisation and provisional authorisation to engage in collective bargaining with Facebook and Google. The Commerce Commission has received applications from News Publishers’ Association of New Zealand Incorporated (NPA) seeking authorisation and provisional authorisation on behalf of itself... More>>


Reserve Bank: MPC Continues To Reduce Monetary Stimulus
The Monetary Policy Committee agreed to raise the Official Cash Rate (OCR) to 0.75 per cent. The Committee agreed it remains appropriate to continue reducing monetary stimulus so as to maintain price stability and support maximum sustainable employment... More>>

PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>

NZ Skeptics Society: Announce Their 2021 Awards, And Dr Simon Thornley Wins The Bent Spoon

Every year the New Zealand Skeptics presents its awards to people and organisations who have impressed us or dismayed us, and this year it’s been hard to pick our winners because there have been so many choices!.. More>>



REINZ: Sales Volumes Leveling Out

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 44 fewer lifestyle property sales (-2.6%) for the three months ended October 2021 than for the three months ended September 2021... More>>


BNZ: Auckland Retail Card Spending Bounces Back In Step Two
Bank of New Zealand (BNZ) card spending data released today shows one week of retail therapy at Alert Level 3 Step 2 has been enough to raise card spending in Auckland to levels greater than before the Delta lockdown... More>>