11 January, 2011
In regard to the Fiji Rugby Union's (FRU) accounts there has been recent speculation inferring financial mismanagement which paints a bleak picture of the financial system adopted by the FRU.
The FRU wishes to assure its stakeholders, member unions and the public that its accounts are subject to an annual external audit.
For the 2010 financial year, which ended on 31 December 2010, the FRU’s finance division is in the process of compiling the accounts which will then be subject to audit by an independent external auditor.
The audited account will be circulated to all member unions and will be tabled at the Annual General Meeting in April for discussion and adoption. A copy of the Accounts is always sent to the International Rugby Board, it being one of the major contributor’s of FRU’s funds.
The FRU lottery account will form part of the 2010 Annual Accounts.
As the matter regarding the lottery is currently before the Court, the FRU refrains from further comment on the subject.