Auditors unable to satisfy themselves about World Cup tickets sales
Internal control deficiencies at the secretariat of the St Vincent and the Grenadines Football Federation (SVGFF) have resulted in the auditing firm of KDLT being unable to satisfy itself in relation to the sales of FIFA World Cup tickets in June 2014.
This is according to the audited financial statements of the SVGFF for the year ended December 31, 2014, which were made available to SEARCHLIGHT.{{more}}
âAs a result of internal control deficiencies, we were unable to satisfy ourselves as to the sales of FIFA World Cup tickets reflected in note 3 in the amount of $241,623… We were therefore unable to determine whether any adjustments might be necessary to the statement of comprehensive income and fund balance as of December 31, 2014 and cash flows for the year then ended.â
Additionally, the audit noted: âIn the year under review, we were unable to determine and to verify sales of FIFA World Cup tickets in the sum of $241,623, as reflected in note 15 to the Financial Statements, and as a result, we were also unable to verify profit of $118,273 on sale of these tickets.â
FIFA regulations say that World Cup tickets must not be sold for more than a 10 per cent mark-up. The issue of the World Cup ticket sales and their proceeds was first raised by the media in June 2014.
The tickets became a hot topic last August and the issue eventually led to the suspension and subsequent dismissal of then general secretary Trevor Huggins.
In Hugginsâ suspension letter, dated August 17, 2015, president of the SVGFF Venold Coombs said that by writing to an attorney at law, seeking information on the sale of tickets, Huggins violated his employment contract.
Third vice-president Elroy Boucher also took to the airwaves in September 2015, again declaring that there were questions to be answered concerning the sale of the tickets.
The records show that Raymond Trimmingham, acting on behalf of the St Vincent and the Grenadines Football Federation, signed on June 8, 2014, to have received 200 tickets.
Other documentation shows that an Isley Coombs agreement came into being on February 16, 2014, in reference to the arrangement for the sale of the tickets.
President of the SVGFF Venold Coombs has repeatedly defended the sale of the tickets, claiming there was never any âhanky-pankyâ and that throughout, the members of the executive were always updated.
Coombs previously told SEARCHLIGHT that the $93,450 collected as profit from the sale of the tickets was used to finance two national teams in regional competitions.(RT)
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