he 2016 and 2017 Financial Reports of the International Shooting Sport Federation have been approved today, at the ISSF General Assembly held in Munich, Germany, with a majority vote.
In an effort to foster transparency and in line with the principles of good governance, the approved financial reports are made available to the wide public and to the federation’s stakeholders on the ISSF Website (along with a wide range of other documents) at the address: https://www.issf-sports.org/theissf/organisation/issfreports.ashx
The ISSF Auditor, Mr. Antonio Fernandez Arena, explained today how the Financial Statements are accounted.
“ISSF financial accounts have four levels of supervision and checking,” he said during the General Assembly meeting, today.
“First of all, a professional accountant prepares all financial accounts for the Federation. Then a Chartered Accountant and Auditor is commissioned to conduct annual checks to be reported to the General Assembly.”
“ISSF’s audited reports are then submitted to German tax authorities, that check the ISSF expenditures against the ISSF Constitutional purposes.”
“Finally,” Mr. Arena concluded, “ISSF Auditors, who are elected by the ISSF General Assembly, perform an independent check of the accounts, before the approval of the ISSF General Assembly.”