Concerns have been raised on the increasing rate of expenditure by the Native Land Trust Board since 1975.
USP senior lecturer Dr. Mahendra Reddy during his presentation at an Economic Forum at the Marine Lecture Theatre this afternoon highlighted that NLTB's expenditure is increasing by over 32 percent per annum.
Reddy said he has found out that the NLTB is not following proper Accounting Standards.
He said the income statement has been misrepresented and the whole accountability of the transactions of the contract with Pacific Connex is not shown.
Reddy said NLTB is also charging rates and not informing its shareholders about dividends.
He also said that he doubts that NLTB is registered with registrar of companies.
