The Guyana Football Federation’s (GFF) Compliance Status has been fully reinstated by the International Federation of Association Football (FIFA), paving the way for the restoration of their annual subsidy.
According to the correspondence, “The reinstatement of the GFF Compliance Status, brings an end to two very difficult years for our fraternity. During this period, the Executive Committee had been working very closely with the FIFA Administration and our Consulting Partners to ensure our restoration to financial correctness.”
“We have made significant progress in reforming the internal financial governance structures of the Federation to ensure that we achieve complete alignment with the NEW FIFA Forward funding regulations in the future. This is an ongoing exercise that will continue to receive our highest priority, the release added.”
The world governing body had suspended funding to the federation following an audit of their 2015 accounts, which was conducted by international firm Pricewaterhouse Coopers (PwC).
Given the positive outcome, the correspondence stated that the federation will now attempt to settle arrears which total in the tens of millions and forge ahead with their developmental programmes.
The release further said, “The Executive Committee is fully committed to sound financial stewardship, transparency and accountability. We have undertaken to build a robust finance management system that will reflect good governance in every area of our operations. The hard work being done by our Staff, together with the investments we have made in acquiring modern systems and accounting tools, will surely protect the future of the game and restore the reputation of the Sport.”
“We implore each member to recognize their role in embracing sound financial practices throughout their Football operations. The GFF will be implementing a Member Finance Governance programme shortly and will mandate the participation of each Member of the fraternity, as a non-negotiable condition for funding support. Football has changed globally and continues to evolve at a rapid pace. The GFF is determined to position itself as a modern, progressive and trusted institution in pursuit of a better future for our players, officials and stakeholders”, the correspondence added.