Funds were unaccounted for under Kwesi Nyantakyi – Leaked FIFA forensic review reveals
World Football governing body, Fédération Internationale de Football Association (FIFA) has, among other things, revealed that some funds could not be accounted for under the regime of former GFA President, Kwesi Nyantakyi.
The revelation is contained in a letter dated June 6, 2019, which was written to the Normalisation Committee of Ghana Football on a forensic review of the Ghana Football Association commissioned by FIFA.
In the said letter, FIFA said the audit found that: “Large levels of cash-based transaction were carried out without supporting documentation, general lack of accountability and absence of an audit trail of disbursement”.
The audit also found, according to the letter, that there was “absence of key controls, with particular reference to lack of segregation of duties over fundamental financial processes”.
It added: “lack of accounting records for receipt and expenditure of funds related to sponsorship agreements, significant transaction based on verbal agreements and absence of documentation over high-value, ad-hoc payments to Executive Committee members.”
The letter clarified that the forensic review was to help FIFA obtain a more detailed and specific understanding on the state of affairs in the financial management and organizational transition that was being overseen by the Normalisation Committee.
Even though the letter is dated June 6, 2019 and addressed to Dr Kofi Amoah, it is the first time the letter has surfaced in the public domain.
Read full statement below:
