Maldives Olympics Committee has tasked audit firm MHPA to oversee the financial status of sports associations.
Maldives Olympics Committee has tasked audit firm MHPA to oversee the financial status of sports associations.
MHPA is the firm that conducted auditing for Football Association of Maldives (FAM) as well for the past seven years.
A circular set to sports associations by the Sports Commissioner's Office said that the Maldives Olympics Committee and Sports Commissioner's Office are taking measures to strengthen financial governance of sports associations. The circular said that independent audit firm MHPA has been appointed by the Olympic Committee to conduct financial assessments of associations.
The office said that MHPA will conduct interviews separately with the associations as part of their assessment.
Mihaaru News reports that MHPA has highlighted many issues about the financially struggling FAM. As such, the 2022 audit report of FAM brought to attention many issues, despite which the member clubs approved the audit report in the 2023 congress without taking into consideration any of the issues highlighted.
With some in the sports field raising concerns about MHPA being appointed to conduct financial assessments of associations, the firm responded that as auditors, their responsibility is to make assessments and highlight any issues found.
"We urge you to at least read the the latest audit report 2022 of FAM," they said, saying their responsibility is to highlight issues, and taking action upon those issues is outside of their remit.
The Sports Commissioner's Office circular said that the office, as well as Olympic Committee, will assist in conducting the assessments.
The circular further announced that there are plans to conduct trainings on State financial management for those overseeing financial affairs of sports organizations.
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