ZURICH: The Swiss subsidiary of accountancy giant KPMG is being subjected to an internal company review concerning its auditing work on behalf of world football federation FIFA writes KEIR RADNEDGE.
KPMG Switzerland has been responsible for auditing FIFA’s financial reports since 1999 but its work has come in for increasing questioning since the judicial action against the world football federation in May by the justice departments of both the United States and Switzerland.
In May, the US DoJ indicted 14 FIFA-linled officials in a $150m bribery and racketeering conspiracy while the Swiss Attorney-General’s Office is investigating corruption claims focused on the 2018 and 2022 World Cup hosting awards.
A spokesman for KPMG International reportedly said: “While the [Swiss and US] allegations predominantly concern activities which do not directly impact the FIFA financial statements, a review of the audit work performed by KPMG Switzerland is being conducted in consultation with KPMG International.”
KPMG Switzerland said national football associations and regional confederations around the world do not form part of the financial statements of FIFA and do not come under its auditory competence.
However FIFA’s 2014 annual report stated that it arranges a central audit of 40 member associations and one confederation each year through KPMG “to verify that all financial assistance payments are in compliance.”
Last week FIFA suspended Jerome Valcke, its secretary general and No2 to president Sepp Blatter, after allegations concerning a World Cup tickets resale agreement. Valcke has denied the allegations.