Monday, 14 December 2020
The International Boxing Association (AIBA) faces a critical few weeks, with an auditor warning it will be unable to repay its debts when they fall due if payments related to next year s competitions are not received before January.
The assertion comes in an auditor s report on AIBA s financial statements for the year-to-end June 2020.
The report, by Nyon-based Moore Stephens Refidar, states: The ability of [AIBA] to continue as a going concern and to repay its debts will depend upon the proper execution of two agreements signed for 2021 competitions. As of today [10 November 2020], the payment schedule for the first competition has not been respected and the payment for the second competition is expected in December 2020.