Forde assures financial accountability Forde assures financial accountability despite Auditors’ Report

first_img– Congress approves financial reportWAYNE Forde, president of the Guyana Football Federation (GFF), assured his affiliates and stakeholders of the game of football, that the Federation’s finances are in good hands, despite receiving a ‘Qualified Opinion’ on their Audited Financial Statements for the year ending December 31, 2016, which was done by Ram and McRae, Chartered Accountants, Professional Services Firm.According to Ram and McRae, one of the country’s leading Chartered Accounting firms, the GFF did not maintain adequate documentation of transactions with suppliers and consequently, Ram and McRae were unable to determine the accuracy, validity and completeness of accounts payable and accruals slated at $89,881,316 in the financial statements. Of this amount, a total of 48,320,142 was supported by third party confirmations and other audit evidence.Additionally, the report stated, adequate documentation for expenses paid during the year under review, totalling $2,319,499 was not provided during our test of controls.According to the findings of the Financial Audits, the GFF did not maintain adequate documentation in respect of game and other income stated at $21,051,698 in the financial statements, of which a total of $16,834,029 was supported by receipts and other audit evidence.Eighteen affiliated members of the GFF participated in yesterday’s Extraordinary Congress, where 17 voted to approve the 2016 Audited Statements.Forde said that his executive committee campaigned on bringing integrity to the game, and they’ve not strayed from that mantra.Chronicle Sport, in an article published on December 14, spoke about the over $45M unaccounted debts and income claims, according to Ram and McRae’s Audits. However, Forde called the article misleading, adding that since the publication, several concerned stakeholders reached out for an explanation.Forde said the article painted a picture that his administration was careless with the trusted finances, and that monies were missing, when in fact, that was not the case.The GFF president assured the public that under his watch and that of his executive committee, transparency will forever be the order of the day, with their only purpose in office being to see the development of the game on all fronts in the most professional manner, all done in accordance with FIFA’s rules.  A qualified opinion is a statement issued after an audit is done by a professional auditor that suggests the information provided was limited in scope and/or the company being audited has not maintained generally accepted accounting principles.Auditors who deem audits as qualified opinions are advising whoever is reading the document that the information within the audit is not complete or the accounting methods used by the company do not follow generally accepted accounting principles.A qualified opinion is typically given due to a limitation of scope in which the auditor was not able to gather sufficient evidence for various aspects of the financial statements.Without sufficient verification of transactions, an unqualified opinion may not be given.A qualified opinion is suitable when accounting procedures used do not conform to generally accepted accounting principles. Inadequate disclosures in the notes to the financial statements, estimation uncertainty or the lack of a statement of cash flows are also grounds for a qualified opinion.last_img read more

UFC 249 betting odds, advice for Tony Ferguson vs. Justin Gaethje card

first_imgUFC 249 betting odds(All odds via SportsInsider.com)Anthony Pettis -154Donald Cerrone +134These two veterans are both fan favorites, but they are both at a crossroads in their careers. Pettis has lost two straight bouts and eight of his last 12 fights, while Cerrone has dropped three straight. The odds have moved in favor of Pettis as he was a -130 favorite per the UFC betting odds when they opened a few weeks ago, but Cerrone might be the play here. His last three losses were to three of the best fighters in Tony Ferguson, Justin Gaethje and Conor McGregor, and Pettis is a more manageable opponent.Fabricio Werdum -315Aleksei Oleinik +265It’s been a long time since we’ve seen Fabricio Werdum in the Octagon, but fight fans are eager to see his return. The one-time heavyweight champion was suspended after testing positive for trenbolone, and this will be his first bout since St. Patrick’s Day in 2018.He will take on another grappling specialist in Aleksei Oleinik on Saturday. Olinik is a pretty one-dimensional fighter as 46 of his 58 victories have come by way of submission, so the game plan for Werdum is simple. If he stays on his feet, he should be in a great position to win the bout.Greg Hardy -200Yorgan De Castro +170Neither one of these fighters is proven at this point. Greg Hardy is more well-known because of his NFL career and the media attention that surrounded his move to the UFC, but he has had a rather static career. All of his victories have come by way of first-round knockout, and any opponent that makes it through the first round has defeated him.De Castro is more raw than Hardy, but he is 6-0 in his short professional career. He knocked out Alton Meeks and Junior Tafa in his two most memorable bouts, and his power means this fight should be much closer than the odds indicate. One of these opponents is likely to win by first-round knockout, so the underdog is good value here.MORE: Get the latest odds, advice at SportsInsider.comCalvin Kattar -275Jeremy Stephens +235Calvin Kattar cut his teeth in other promotions, but he has been impressive since joining the UFC. He is 4-2, with three of his four victories coming by way of knockout, and he went to the cards in his two losses. Meanwhile, Jeremy Stephens is a common foil for featherweights at this stage of his career. The upper-tier featherweights usually beat him, but he can take care of anyone not up to the challenge. He has lost six of his last 10 bouts though, so Kattar is the play at this price.Francis Ngannou -265Jairzinho Rozenstruik +225This fight is unlikely to last more than one round. These two heavyweights are both knockout specialists who rely on their immense power to pummel their opponents. Francis Ngannou’s last three victories have all come by way of knockout in the first round, while nine of Jairzinho Rozenstruik’s 10 victories have been knockout wins.There has been considerable line movement on the underdog, but Rozenstruik still has good value at this price. Since both these heavyweights are going to come out swinging, all it takes is one punch to decide the matter.Henry Cejudo -225Dominick Cruz +190This fight is seen as the most likely to go the distance according to the oddsmakers with an over/under of 4.5 rounds heavily shaded toward the over. Henry Cejudo has been better than expected as a standup fighter, and he has proven that he can do more than just grapple. Almost half of the former Olympic gold medalist wrestler’s victories have come by knockout, and he has knocked out some of the top bantamweights in the world on his way to claiming the title. Dominick Cruz was a late fill-in for Jose Aldo, and this will be his first time in the ring since December 2016. Numerous injuries have sidetracked a once promising career, and he has pulled out of three fights since his last bout due to injury. It’s tough to see him upsetting Cejudo in this situation.Tony Ferguson -199Justin Gaethje +174The main event should be well worth the price due to Justin Gaethje’s eye-catching style. Gaethje is fearless and isn’t afraid to take a lot of punishment in order to dole out some of his own. That lack of regard for his body and recklessness have made him a fan favorite in recent years, but he’s going to have a hard time getting past Tony Ferguson.Ferguson is a smart, calculated fighter, and he can punish opponents who like to get close with his elbows and knees. He has won 12 straight fights over the last eight years, and he has won half of those bouts by submission. His style is a great counter to Gaethje, so betting him at anything under -200 is shrewd. There is plenty of excitement surrounding UFC 249 this weekend in Jacksonville, Fla. While no fans will be in attendance, millions will be watching at home as the return of MMA symbolizes something of a move back to the status quo.We will have almost six hours of fights to keep us occupied starting at 6:30 p.m. ET. The first three bouts will take place on ESPN+, and then the next four fights will be broadcast on ESPN before the five main card clashes take place on pay per view on ESPN+.last_img read more