Arab Today, arab today auditors kpmg terminate fifa contract
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Auditors KPMG terminate FIFA contract

Arab Today, arab today

Arab Today, arab today Auditors KPMG terminate FIFA contract

IFA have been battling to redeem their name ever since a raid on a Zurich hotel
Zurich - AFP

Accounting and auditing giants KPMG confirmed on Monday they have ended their decade-long association with scandal-hit world football governing body FIFA.

The Swiss branch of KPMG confirmed "the end of this partnership with immediate effect" in a statement to AFP.

"In accordance with Swiss law, by letter dated June 9, we informed the FIFA president about our decision to end this association and the reasons leading KPMG to take this decision," the audit firm said without revealing details.

"We are going to continue looking after certain FIFA trusts and we cannot make any further comment," the KPMG statement added.

The Dutch-based firm had announced last September it was examining work carried out by its Swiss branch, which has overseen the auditing of FIFA's accounts since 1999.

"The decision was made by KPMG. They notified us at the end of last week," a source familiar with FIFA's management said. "We don't know what the outcome of the internal review of their FIFA audit was."

"FIFA acknowledges the decision of KPMG to step down as FIFA's auditor after more than a decade of service," the world body said in a statement, adding a new auditing firm would be appointed at the Congress in May 2017.

New FIFA president Gianni Infantino, elected in February to take over from suspended Sepp Blatter, "has initiated a comprehensive financial audit of FIFA's finance function", the FIFA statement said.

"In light of the serious allegations involving financial transactions outlined by the Swiss and US authorities, it is essential that the financial function at FIFA be externally reviewed and thoroughly reformed.

"The appointment of a new auditor, coupled with the appointments of a new Chief Financial Officer and a new Chief Compliance Officer, are essential steps in this process."

FIFA have been battling to redeem their name ever since a raid on a Zurich hotel last year to arrest seven FIFA officials at the centre of a US investigation.

US prosecutors have started to judge those indicted, while the Swiss justice system is investigating the awarding of the 2018 World Cup to Russia and the 2022 edition to Qatar.

FIFA revealed on June 3 that Blatter and two of his deputies, Jerome Valcke and Markus Kattner awarded themselves more than $80 million (71 million euros) in often suspicious payments over the past five years.

Blatter was suspended for six years, with secretary general Valcke and financial director Kattner both sacked for financial breaches involving secret bonuses worth millions of dollars.

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Arab Today, arab today auditors kpmg terminate fifa contract Arab Today, arab today auditors kpmg terminate fifa contract

 



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