POSTED: April 17th 2015
NewsUpdate

FINA joins call for transparency by IOC President Bach

IOC President Thomas Bach opened a new door on transparency by revealing his own salary and FINA is the first federation to follow suit © IOC Ian Jones
IOC President Thomas Bach opened a new door on transparency by revealing his own salary and FINA is the first federation to follow suit © IOC Ian Jones

FINA just signed the host city agreement with Budapest to host the FINA World Championship & FINA World Masters Championships in 2017 © FINA
FINA just signed the host city agreement with Budapest to host the FINA World Championship & FINA World Masters Championships in 2017 © FINA

MARISSA FLANDERS / Sports Features Communications

(SFC) The International Swimming Federation (FINA) has answered to the International Olympic Committee (IOC) President, Thomas Bach and Agenda 2020's call for transparency. One of the most important stakeholders of the Olympic Program, FINA stated that the Honorary Treasurer, the Bureau Members, the Honorary Secretary and President didn't receive any kind of indemnity. They had not received any kind of salary, as they are considered volunteers. They did receive 300 USD per diem for the days of travel for FINA business till December 31, 2014. Then 400 USD per diem from January 1, 2015. These travel expenses are covered under the business class.

The FINA Office employs 32 people, including 11 part-time positions.

In addition, during a meeting in Lausanne, the FINA Executive and Vice Presidents proposed to nominate a Chief Internal Audit Officer to the FINA Bureau. This is one step closer to having good governance, fairness, responsibility, accountability and transparency.

FINA's Financial Report will continue to be audited in accordance with the FINA Constitution and the Swiss Audit Standards. PricewaterhouseCoopers (PwC) will be the external auditor and legal requirements will be met in accordance with the Auditor Oversight Act (AOA) and indecency.

The yearly Financial Report is presented to the FINA Bureau for approval and FINA General Congress approves the submitted four year financial statements.

** MARISSA FLANDERS is a graduate of Saint Leo University with a Bachelor's Degree in Sport Business. She has over four years of writing experience and has a real passion for ice hockey following the Pittsburgh Penguins on her blog www.thepenshockeyshow.com.


Keywords · IOC · FINA · Thomas Bach · Olympic Agenda 2020


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