Serious governance concerns within the Confederation of African Football (CAF) have been uncovered by the organization’s major financial crisis.
According to The Guardian, an external audit carried out by EY for the year ending June 30, 2023, uncovered almost USD 16 million in unreported expenses, greatly raising the year’s overall losses to USD 25.43 million.
The auditors found unrecorded expenses and unallocated technical charges totaling USD 12 million, which raised major concerns about CAF’s financial management procedures.
Internal conflicts have arisen as a result of the disclosure, with the audit and compliance committee accusing Véron Mosengo-Omba, the general secretary, of meddling in the probe.
Although Mosengo-Omba, who is being investigated for multiple governance violations, denies any wrongdoing, he is suspected of trying to provide the auditors with disputed documents.
The financial crisis strikes CAF during a pivotal moment as the group gets ready for its presidential election.
Patrice Motsepe, the current president, is anticipated to meet opposition from seasoned Egyptian football administrators, such as Hany Abo Rida.
Serious questions concerning financial supervision and governance at the core of the governing body of African football are brought up by the controversy.
The disclosure of such notable financial anomalies poses serious challenges to CAF’s resource management practices and deals a serious blow to the organization’s reputation.
