FIVB Finance Commission meets via videoconference

The President and Secretary of the Commission joined from the FIVB Headquarters.

The FIVB Finance Commission today held a meeting via videoconference with FIVB President Dr Ary S. Graça F°, Commission President Essa Hamza Al Failakawi and Secretary of the Commission Habu Gumel joining from the FIVB Headquarters in Lausanne, Switzerland.

During the meeting, the 2021 Accounts, updates on the 2022 Budget and Budget 2023-2024, which will be presented at the upcoming Congress, were presented. The report of the FIVB Controller, FIVB Internal Auditors’ Report and the External Auditors’ Report by Deloitte were also presented. In addition, the Commission received updates on financial regulations.

During the meeting, FIVB President Dr Ary S. Graça F° said:

“It is critical for us to continue to follow the principles of good governance, accountability and transparency day by day. As you know, last year the FIVB announced a groundbreaking partnership with CVC Capital Partners and launched Volleyball World. The revenues from it will be used for the global development of volleyball through our revolutionary programme of Volleyball Empowerment.

“The Finance Commission members are our advisers. We need their experience, knowledge and expertise throughout the year for the benefit of our sport. I count on the Finance Commission! We have established ourselves as a very reputable and transparent International Federation and we need to ensure it remains that way.”

The Finance Commission concluded its meeting by agreeing the following proposals for the consideration of the FIVB Board of Administration:

1.       To approve the 2021 Accounts

2.       To approve the Budget 2022 updates

3.       To approve the Budget 2023-2024 to be presented at the FIVB World Congress