FOOTBALL CLUB FINANCES: ENSURING SAFE CONTROLIn February 2017, “IAS” professionals attended the meeting of the Football Union of Russia in Krasnodar where representatives of all Russian Football Premier League teams discussed changes in the UEFA regulations.
The “IAS” banking and consulting group has provided auditing and IFRS transformation services for a number of Russian football clubs for more than 5 years and thus is familiar with the specifics of “football” accounting. The latter involves the necessity to comply with the UEFA Financial Fair Play requirements, the Football Union of Russia licensing requirements, eligibility evaluation with regard to ownership of players, and separate accounting for income and expenses. There are a lot of both Russian and foreign requirements and regulations to adhere to in order to correctly draw up the accounting policy. All of the above points out the importance of the following facts while choosing an auditor or a consultant for a football club: work experience with football clubs and sports organizations, availability of an IFAC member-company international IFRS audit license and international ACCA certificates with specialists of consulting companies, the understanding of the Football Union of Russia requirements for reporting and budgeting when licensing clubs.
We are proud of our projects for leading football teams of Russia: it has always been an interesting and challenging work.