CAF faces $16 million in lost spending, raising concerns over financial mismanagement | Soccer/Football

The Confederation of African Football (CAF) is embroiled in a major financial scandal that has exposed serious governance issues within the organisation.

An external audit by EY revealed more than $16 million in unaccounted expenses for the year ending June 30, 2023, significantly increasing total losses for the year to $25.43 million , The Guardian reported.

Auditors identified $12 million in unallocated technical costs and other unrecorded expenses, raising serious questions about CAF’s financial management practices.

The revelation has sparked internal tensions, with the audit and compliance commission accusing the secretary-general, Véron Mosengo-Omba, of interfering with the investigation process.

Mosengo-Omba, who has been investigated for various government offences, denies any wrongdoing but has been accused of trying to present disputed documents to auditors.

The financial scandal comes at a crucial time for CAF as the organization prepares for presidential elections.

Current president Patrice Motsepe is expected to face competition, including from veteran Egyptian football administrator Hany Abo Rida.

The scandal raises serious concerns about financial oversight and governance at the heart of African football’s governing body.

The revelation of such significant financial irregularities is a major blow to CAF’s reputation and raises questions about the organization’s ability to effectively manage its resources.