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The General Institution for Youth and Sport Implements the Unified Financial List for National Clubs

07 Aug 2006
After a series of discussions and consultations on the articles of the unified financial list for national clubs among their representatives, and the revision of the articles by the Administration of Clubs Affairs in the General Institution for Youth and Sport with Fakhro Company for Accounting (KPMG) and the Ministry of Finance to finally adopt, the administration distributed booklets that contain the special system of the financial list, to clubs and centers in order to implement this list.
 
By adopting the list, the General Institution for Youth and Sport aims to organize the financial policies and procedures required for the activities specifically related to the finances, assets and commitments of clubs, in addition to purchasing, acquisition, exchange, registration, oversight and investment procedures, and issues related to the workforce.
 
The unified financial list contains 11 sections such as the general regulations, accounting records and policies, financial statements and others.
 
The Administration of Clubs Affairs had organized a workshop last May to discuss the unified financial list for national clubs that was attended by the representatives of 22 clubs. 
At the workshop, Mr. Hisham Albaloushi, President of the Clubs Department at the General Institution, presented a detailed display of the unified list along with the procedures that must be adhered to by the clubs and centers. The presentation took place with the attendance of representatives from both the Fakhro Company for Accounting (KPMG) and Talal Abu-Ghazaleh and Co. International (TAGI).