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Zimbabwe: Zimbabwe Cricket Cleared
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 Published by the government of Zimbabwe |
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The Herald (Harare)
20 March 2008
Posted to the web 20 March 2008
Paul Munyuki
Harare
The Zimbabwe Cricket were yesterday cleared of any misuse of funds by the International Cricket Council after allegations that the association's 2004-6 books were not in order - except for minor irregularities.
There had been allegations that some of the association's leaders such as managing director Ozius Bvute and board chairman Peter Chingoka were diverting some funds for their personal use. However, the ICC on Monday declared that a report it had commissioned into the accounts of ZC had cleared the organisation of any wrongdoing. The forensic report produced by chattered accountants KPMG South Africa and KPMG Zimbabwe, is understood to have found that no money had gone missing although some paperwork had been missing.
The document was a also a joint review by the ICC and ZC of the audit covering the two financial years ending December 2005 and a statutory audit for the financial year ending December 2006. The report was considered by the ICC audit committee, which reported to the ICC board during its meeting in Dubai during the past two days. According to a statement from the ICC the report was able to "highlight serious financial irregularities" but "found no evidence of criminality and that no individuals had gained financially." "In its review of the ICC audit committee report, the ICC board accepted that the KPMG report had found no evidence of criminality and that no individuals had gained financially.
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"The board noted, however, that the report highlighted serious financial irregularities. "ZC reported to the ICC board that it had taken substantial remedial action to correct these irregularities and would continue to do so," read part of the statement. ZC communications manager Lovemore Banda yesterday acknowledged that the local cricket body had during the period under review struggled to meet the accounting standards required by the ICC. "On the procedural irregularities in accounting - due partly to the shortage of staff in that department - ZC stated that it had taken substantial remedial action to correct the situation and would continue to do so.
"We accept that our accounting protocols at the material time - the period 2004 to 2006 - did not fully meet acceptable international accounting standards. The ICC and KPMG also accept that we have since instituted remedial measures.
"Cricket South Africa have agreed to our request to assist in ensuring further improvement of the accounting procedures to avoid the recurrence of such an issue," Banda said.
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