More disclosure, but still no explanation of union’s financial reporting

My column about lack of disclosure in the NZ Meat Workers Union accounts two weeks ago has provoked some interesting results, but so far no formal explanation of the union’s statutory financial reporting practice.

Union fees suffer from lack of disclosure

There’s a puzzling discrepancy in the annual accounts published by NZ Meat Workers and Related Trades Union Inc (NZMWU) because they apparently understate by a considerable margin the actual revenue and expenses of the different branches of the union, not to mention the balance sheet items held in each branch.

Advertisement