April 21, 2021

KPMG Quits as Fifa’s Auditor, a Move Soccer Body ‘Welcomes’

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By Hugo Miller From Bloomberg

KPMG stepped down as FIFA’s auditing firm as soccer’s world governing body races to clean up a reputation dented by allegations of bribery and corruption.
FIFA said in a statement that it “welcomed” the opportunity to work with a new auditor. It will pick one soon on a temporary basis and confirm a more permanent provider at a meeting in May, it said in an e-mailed statement Monday.

Swiss and U.S. authorities are investigating allegations of wrongdoing by former FIFA officials and sports-marketing executives as well as looking into the bidding process for the 2018 and 2022 World Cups won by Russia and Qatar. Earlier this month FIFA said three top former officials including ousted ex-president Joseph ‘Sepp’ Blatter awarded themselves more than 79 million Swiss francs ($81.7 million) over the past five years from bonuses, incentives and salary increases, some of which probably broke Swiss law.

“In light of the serious allegations involving financial transactions outlined by the Swiss and U.S. authorities, it is essential that the financial function at FIFA be externally reviewed and thoroughly reformed,” the Zurich-based body said in the statement. Naming a new finance chief, compliance chief and auditor are “essential steps in this process.”

KPMG wrote to FIFA on June 9 giving its reasons for the resignation, which took place with immediate effect, Andreas Hammer, a spokesman for the auditor, said by e-mail. Ongoing fiduciary duties to FIFA prevent KPMG from commenting further, he said.

For more on this story go to: http://www.bloomberg.com/news/articles/2016-06-13/kpmg-quitting-as-fifa-s-auditor-a-move-soccer-body-welcomes

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