The Serious Fraud Office (SFO) is investigating the organisation that looks after the Waitangi Treaty Grounds.
The Waitangi National Trust confirmed today that an inquiry was under way into financial irregularities.
Acting chairman Dennis McBrearty said an investigation was conducted by the board as soon as the irregularities were discovered, and passed on to the SFO.
"It was decided to engage an external consultant to carry out an inquiry to see if there was any reason for concern," he said.
"That has now progressed to a point where the issues have been referred to the Serious Fraud Office for them to continue those inquiries."
He said no one has been stood down as a result.
"From the information that's been given to me at this point I don't believe that any current staff are involved in the transactions."
Mr McBrearty said the irregularities included expenses claims and possibly capital expenditure.
The trust would now wait for the findings of the inquiry, he said.
The trust took in over $11.5 million in revenue, grants and donations in the financial year ending June 2016.