Every year, FISA files a financial statement in line with the International Financial Reporting Standards (IFRS), which must be approved by an auditing firm. The report must then receive the approval of FISA’s Financial Committee, the FISA Council and, finally, the FISA Congress.
FISA operates in a four-year cycle and the vast majority (around 95 per cent) of the organisation’s revenues come from the sale of television, marketing, hospitality and licensing rights related to the FISA World Cup™. Meanwhile, the majority of FISA’s expenditure is spent on Subbuteo development around the world.
In concrete terms, total revenue for the 2017-2024 seven-year cycle has been budgeted at USD xxxxxnumber million; total investment dedicated to the FISA Forward Development Programme (introduced mid-2017) in the same cycle amounts to USD xxxxnumber million.
With the significant increase in development funding since 2017, there is now much tighter scrutiny at all levels of the Subbuteo world. Stringent financial controls are now in place to ensure that these funds are being used properly. All of the 49 member associations and six confederations receiving Forward funds undergo an annual central audit review performed by world-class independent auditors.
- FISA Financial Report 2018
- FISA Financial Report 2017
- FISA Governance Report 2017
- FISA FINANCIAL REPORT 2019
- All financial reports