A ministerial investigation into the affairs of Te Aupōuri Māori Trust Board has found no evidence of fraud or mismanagement.
However, the report confirmed the board was insolvent.
In September, Māori Development Minister Te Ururoa Flavell appointed Ernst and Young partner Grant Taylor to conduct an investigation and piece together how the board reached its financial situation.
"The investigation found no evidence of fraud or mismanagement. I am pleased to hear that this is the case," said Mr Flavell.
Mr Flavell directed the board to comply with its financial reporting requirements under the Māori Trust Board's Act 1955.
He also encouraged the board to continue working closely with Te Rūnanga Nui o Te Aupōuri to address liabilities and risks identified in the report.
Te Hiku Claims Settlement Bill, which included the settlement for Te Aupōuri, had its final reading on 9 September.
As a consequence of this legislation, the Aupōuri Māori Trust Board was dissolved and Te Rūnanga o Te Aupōuri will receive the tribe's settlement.