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

FIFA Appoints New Audit and Compliance Committee Chairperson - Part 4

Posted by Alexa Foxon Wed, Jul 06, 2016 @ 11:57 AM

Just a few months ago, FIFA's Chief Internal Auditor, Scala, stepped down for various reasons (here). Today, FIFA's council appointed Tomaz Vesel  as the independent chairperson of FIFA’s Audit and Compliance Committee. Mr Vesel currently serves as President of the Court of Auditors in Slovenia having been elected by the National Assembly of the Republic of Slovenia in 2013.

“The appointment of Mr Vesel as independent chairperson of FIFA’s Audit and Compliance Committee is an important development in the ongoing effort to strengthen FIFA’s governance and compliance systems,” said FIFA President, Gianni Infantino. “This is a vital role within the organization and Mr Vesel’s audit expertise and international experience will help reassure stakeholders and restore trust in FIFA.”

There is still no word about any new external auditor since KPMG stepped down last month. FIFA is still cleaning up a large mess with U.S officials. More than 40 people have been charged with crimes including racketeering and money laundering since the 2015 scandal and recent hidden bonus information. Stay tuned for details about FIFA's upcoming new external auditors. 

To veiw the full story from FIFA, click here.

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Tags: audit, internal audit, fifa, fraud, money laundering, fbi

FIFA - Part 3

Posted by Alexa Foxon Mon, Jun 13, 2016 @ 06:19 PM

On June 9th, Big Four auditing firm, KPMG, stepped down as FIFA’s auditing firm after working with them for more than 16 years. KPMG has confirmed its resignation, but declines to comment further.  Many questions have been raised as to why a Big Four auditing firm missed or looked passed so many red flags. FIFA has been in the news a great deal the first half of this year with a new president, uncovered and hidden bonuses to
executives, and internal audit stepping down.

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Tags: KPMG, scandal, Scala, resign, fifa, bonuses, Sarbanes-Oxley, fraud, non-profits, internal control 2013, sox and coso, sox coso framework, coso framework, coso sarbanes oxley

FIFA - Part 2

Posted by Alexa Foxon Fri, Jun 03, 2016 @ 06:27 PM

FIFA CORRUPTION:

Today, more information has been released on the corruption with FIFA. The last FIFA blog post, "Who Does FIFA Answer to?", focused on the May, 2015 corruption that was uncovered by the FBI. The president at the time was Sepp Blatter.  U.S. law firm, Quinn Emanuel Urquhart & Sullivan, have performed extensive research and analysis on FIFA in the past year and the findings are shocking. 

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Tags: scandal, FIFA Reform, fifa, bonuses, executives, bonus, Corruption, salary