In reference with the headline, ‘FABD submits appeal for conditional fund to FIFA’, the Football Association of Brunei Darussalam (FABD) clarified that the Statutory Audit Report, which showed no discrepancies or material misstatement, failed to attain the majority votes to be endorsed by stakeholders during last May’s Congress. The Statutory Audit Report will be presented again at the Congress in November for approval.
It also stated that its accounts undergo a rigorous examination of its books by independent chartered auditors, both external and internal, followed by a physical checking of inventory to ascertain adherence of financial practices to regulatory guidelines.
Additionally, FABD also submits to an annual credit review as required by FIFA.
-- Courtesy of Borneo Bulletin