Golf pros to vote on auditor in finance row.

Golf pros to vote on auditor in finance row.

All 281 golf professionals on the PGA European Tour, the golf tournament body, are to vote to decide on an audit firm to conduct an examination of its accounts.

The decision to appoint a firm to undertake an independent audit follows an agreement reached between the PGA Board and the tour players, represented by Nick Faldo, Jose Maria Olazabal, Bernard Langer and Severiano Ballesteros.

They called an extraordinary general meeting of the Tour to discuss increasing frustration felt by players at the lack of transparency in the PGA’s financial dealings. Olazabal (right) and Faldo are pictured above at the meeting last month. The players believe the PGA’s financial affairs should not be veiled in secrecy.

Questions have also been raised over the #50,000 profits made by the Tour, despite its television income in excess of #15m.

A PGA spokesman said: ‘The PGA will recommend five or six high-profile audit firms, which the players will then vote on in a ballot, with an independent audit expected to be completed by March or May, at the latest.’ The auditors, however, will examine only ‘non-confidential’ areas of the Tour’s accounts.

The Tour’s books are currently audited by Grant Thornton.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

The importance of UX in accounts payable: Often overlooked, always essential
AP

The importance of UX in accounts payable: Often overlooked, always essentia...

1m Kloo

The importance of UX in accounts payable: Often ov...

Embracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...

View article
The power of customisation in accounting systems
Accounting Software

The power of customisation in accounting systems

2m Kloo

The power of customisation in accounting systems

Organisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...

View article
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
8 Key metrics to measure to optimise accounts payable efficiency
AP

8 Key metrics to measure to optimise accounts payable efficiency

2m Kloo

8 Key metrics to measure to optimise accounts paya...

Discover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...

View article