The former treasurer of the Auckland University Students Association (AUSA) has laid a complaint with the Serious Fraud Office (SFO), alleging dodgy accounting over more than $600,000 worth of transactions.
Tania Lim and two other students laid the complaint on Wednesday morning, saying they had reason to believe more than $600,000 of AUSA related party transactions with a business were improperly accounted for by the business, or duly authorised by AUSA's executive.
The students also believe the loans have been unlawfully capitalised by the related business in 2011.
They say the transactions bring AUSA's solvency into question and jeopardise its assets and services, including the student radio station, bar, magazine and club funding.
Ms Lim, who was AUSA treasurer in 2011, did not want to reveal exactly what the allegations were until the SFO had investigated.
However, it had been going on for a while, she said.
She had not complained while she held the position of treasurer last year as it would have been a conflict of interest, she told NZ Newswire.
She said the students laid the complaint because students had a right to know what their association was up to.
AUSA could not be reached for comment on Wednesday.
The SFO said it had received the complaint and was evaluating it.