Leaked ZIFA audit report unearths over US$2 million unaccounted for
A recently leaked audit draft report of the Zimbabwe Football Association (ZIFA) by the Binder Dijek Otte (BDO) Zimbabwe Chartered Accountants who carried out the forensic audit has exposed large amounts of unaccounted for money.
Seen by Nehanda Radio, the draft report dated 29 September 2022, unearths that whooping amounts of US$2 million and ZWL$112 million respectively were unaccounted for between December 1, 2018 and November 30, 2021.
As noted in the draft, these unaccounted large sums of money accumulated as a result of several factors.
Amongst them include; the association’s expenditure, payments, loan and cash withdrawals that have no supporting documents.
According to a breakdown shown in the forensic audit draft report, almost US$160,000 only was unaccounted for in 2018 while in 2019 close to half a million United States dollars could not be audited.
Furthermore, nearly US$280,000 was also unaccounted for, for the year 2020 and in 2021 the usage of an amount slightly above US$100,000 could not be retraced.
Meanwhile, it is also not clear on how almost ZWL$20 million was spent in 2019 and in 2020 respectively.
Moreover, an amount of almost ZWL$90 million for 2021 was further unaccounted for by auditors of the international company the BDO Zimbabwe Chartered Accountants.
And despite the unaccounted large sums of money, the draft report also exposes a number of irregularities that took place during the tenure of the suspended former ZIFA president Felton Kamambo’s board.
Nevertheless, the SRC who are the brains behind the ZIFA auditing have indicated that the auditors have “not signed the draft of the forensic audit report”.
According to reports, the auditors will sign “once the report has been formally and procedurally presented to the (SRC) restructuring committee that commissioned it (the ZIFA audit)”.
In a statement issued last week, ZIFA through its Executive Committee led by the acting president Gift Banda resolved to hold an Extraordinary General Meeting on October 29, 2022 and revealed that it will also deliberate on the anticipated forensic audit report.