Olympic Committee says will correct irregularities shown in audit report

The Olympic Committee said on Tuesday it will correct irregularities and heed the observations of the audit service, which found overspending and conflict of interest, among others, in a probe of the organisation’s affairs for 2018.

In its response, the committee said the findings concern the previous administration, but it would nevertheless assume the responsibility of complying with the recommendations.

According to a written statement, the current administration, which took office on October 19, 2020, had immediately launched procedures to correct any irregularities that took place in the past.

All its decisions and actions will continue to be guided by the good of athletes and Cypriot sports, always based on the full respect of legal and ethical procedures.

Featuring in the report was a decision to hire an audit firm to advise the committee on how to improve its organisational structure at a cost of €17,850 “which is considered excessively high in relation with the number of staff employed by the committee – 20 people.”

The committee also paid the same firm €8,330 for the preparation of its response letter to the audit-service.

The executive board itself, however, was also censured by the audit service in relation to one of its members having conflict of interest.

In the first instance, on August 29, 2016 the board approved participation of a female athlete who is a first degree relative of the board member, in the International Committee of the Commonwealth Games.

The second case, dated January 14, 2019, concerned the decision to bestow an award on the board member’s wife.