The Confederation of African Football (CAF) is embroiled in a significant financial scandal that has exposed serious governance issues within the organization.
An external audit conducted by EY revealed over USD 16 million in unaccounted expenses for the year ending June 30, 2023, significantly increasing the total losses for the year to USD 25.43 million, The Guardian has reported.
The auditors identified USD 12 million in unallocated technical costs and other unrecorded expenses, raising serious questions about CAF’s financial management practices.
The revelation has sparked internal tensions, with the audit and compliance committee accusing the general secretary, Véron Mosengo-Omba, of interfering with the investigation process.
Mosengo-Omba, who has been under investigation for various governance breaches, denies any wrongdoing but has been accused of attempting to present contested documents to the auditors.
The financial scandal comes at a crucial time for CAF, as the organization prepares for its presidential election.
Current president Patrice Motsepe is expected to face competition, including from veteran Egyptian football administrator Hany Abo Rida.
The scandal raises serious concerns about the financial oversight and governance at the heart of African football’s governing body.
The revelation of such significant financial irregularities is a major blow to CAF’s reputation and raises questions about the organization’s ability to effectively manage its resources.
Source: Ghanasoccernet.com
