In reference with the headline, ‘FABD submits appeal for conditional fund to FIFA’, the Football Association of Brunei Darussalam (FABD) clarified that the Statutory Audit Report, which showed no discrepancies or material misstatement, failed to attain the majority votes to be endorsed by stakeholders during last May’s Congress. The Statutory Audit Report will be presented again at the Congress in November for approval.
It also stated that its accounts undergo a rigorous examination of its books by independent chartered auditors, both external and internal, followed by a physical checking of inventory to ascertain adherence of financial practices to regulatory guidelines.
Additionally, FABD also submits to an annual credit review as required by FIFA.
FABD strives to conduct itself with full transparency, in line with the International Financial Reporting Standards (IFRS) and the Brunei Darussalam Accounting Standards (BDAS).
Furthermore, due to insufficient funds, by no means the result of alleged sanctions by FIFA, FABD has come to a decision of prematurely halting the current 2023/2024 Brunei Super League season prior to its conclusion in February 2024 while the Brunei Futsal League shall play to a finish this November.
FABD also confirmed that its operations are always in full compliance with the laws of Brunei Darussalam as well as the statutory requirements of FIFA, the Asian Football Confederation, and the ASEAN Football Federation.
