FIFA Hires New Auditors - Part 5

Posted by Alexa Foxon Fri, Sep 16, 2016 @ 03:09 PM

This 5 part series focuses on the recent FIFA scandals, the people in charge, and the many changes in auditors.

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Tags: external audit, scandal, auditor, fifa, non-profits, Corruption, PwC, soccer

Who Does FIFA Answer to?

Posted by Alexa Foxon Mon, May 16, 2016 @ 03:07 PM

FIFA Headquarters - Zurich, Switzerland

The Fédération Internationale de Football Association, founded in 1904, as the governing body of association football, futsal and beach soccer for Belgium, Denmark, France, Germany, the Netherlands, Spain, Sweden and Switzerland. Today FIFA dominates the soccer and sport industry  with over 210 national associations worldwide.

FIFA's 2015 Corruption:

In May of 2015, 14 people were indicted in connection with an investigation by the United States FBI and the IRS Criminal Investigation Division into wire fraud, racketeering, and money laundering. The United States Attorney General simultaneously announced the unsealing of the indictments and the prior guilty pleas by 4 football executives and 2 corporations. Stepp Blatter led FIFA since 1998, but stepped down after the 2015 corruption was uncovered.  He was suspended from Football for 6 years after breaching ethics guidelines. The U.S got involved because of suspicion of bribes of about $150 million in 2010. After uncovering the wire fraud and money laundering, the U.S asked other countries to step in and investigate as well, but that is up to the individual country and government. 

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Tags: audit, Scala, irs, FIFA Reform, auditor, reform, compliance, fraud, money laundering, Corruption, wire fraud, fbi

Top Reasons Form AP is a Step in the Right Direction

Posted by Alexa Foxon Thu, May 12, 2016 @ 01:11 PM

SEC Approves PCAOB, Form AP, on Disclosing Engagement Partner Name

PCAOB rules for disclosing the name of the engagement partner and information about other firms participating in audits have been approved by the SEC. Starting January 31, 2017, auditors will be required to fill out Form AP with the PCAOB disclosing all engagement partners working on public audits and information about other audit firms participating in the audit. This information will be searchable by engagement partner name, audit firm, or public company on a public database. 

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Tags: PCAOB News & Information, external audit, Public Company Accounting Oversight Board, SEC approval, Reputation, auditor, Form AP, Vibato, PCAOB, SEC