Welsh Amateur Boxing Association 'unfit for purpose' say auditors
7:45pm Thursday 17th October 2013 in News
THE Welsh Amateur Boxing Association is unfit for purpose and does not qualify to receive public money, an auditors report has said.
Auditors said the way the body responsible for amateur boxing in Wales is run is poor and dysfunctional and found financial regularities.
However WABA has said that the report found no evidence of fraudulent activity.
The independent audit report from KTS Owens Thomas into the financial management and governance of WABA was commissioned by Sport Wales in February.
"It is our view that in its current state WABA is not fit for purpose and does not qualify to receive public money," auditors wrote.
According to the report more than 30 per cent of all expenditure, incurred over two years and ten months studied by auditors, could not be supported by sufficient relevant and appropriate evidence.
Some expenditure was paid out in cash without obtaining receipts.
"We have found some financial irregularities, including significant amounts of expenditure on international tournaments having insufficient supporting evidence," the report read.
KTS Owens Thomas said that, overall, it had found "corporate governance to be poor and dysfunctional. We consider that it is improving, but has not reached an acceptable level."
Auditors made a series of recommendations, including that WABA produces an annual statement comparing grants received and relevant expenditure.
Chairman of the Welsh Amateur Boxing Association Terry Smith said the audit report found no evidence of fraudulent activity.
But he added: "We accept the wider recommendations and appreciate that improvements can be made.
"We are working closely with Sport Wales to address the recommendations in the report, and have an agreed 12 month action plan. Progress has already begun in addressing the recommendations."
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