Ryerson University to request a forensic audit of RSU finances

In News, Student PoliticsLeave a Comment

Reading Time: 2 minutes

By Sherina Harris and Emma Sandri

Ryerson University plans to request a forensic audit of the Ryerson Students’ Union (RSU) finances, the university said in a statement posted Wednesday.

According to the statement, senior leaders at the university met with the RSU to discuss the allegations of misspending and “failure to report” their finances to the Board of Directors (BoD).

The Eyeopener previously confirmed credit card statements totalling thousands in food, clothing, alcohol and hotels on an RSU credit card in the name of union president Ram Ganesh.

Purchases included  $2,280.89 to the club EFS Toronto, $2,507.18 at a Cineplex Rec Room in Toronto and $1,375.21 at Nick’s Sport Shop. There were also purchases of $190.97 and $117.52 to Long & McQuade in Toronto, $347.34 to Haze Lounge Inc. in Mississauga, $696.90 on an Airbnb and $613.60 to Bar Everleigh Toronto, among others.

“The University takes these allegations very seriously. Protecting the interests of students is of primary concern to the University,” said the statement.

President Mohamed Lachemi previously told The Eye the university could not launch an independent investigation, but said the BoD had the authority to do this. He added that he is confident the BoD has sufficient means to carry out an investigation and said he can help direct members.

“I’m taking this very seriously as a president,” he said, adding that the RSU is a separate entity from the university with its own governing body.

“I have respect for that. We have never actually done anything in the past that put us in a position to try to intervene in the business of the RSU,” Lachemi said.

The university will be meeting with the BoD later tonight.

With files from Raneem Alozzi.

Leave a Comment