The State of the Game 2003, launched on Friday by Birkbeck’s Football Governance Research Centre, said the majority of clubs lacked procedures necessary to manage the risks they face.
It produced a survey that showed 71% of clubs found it ‘quite’ or ‘very’ difficult to maintain the solvency of the company.
And it suggested that the financial woes of Leeds United have underlined the need for good corporate governance among football clubs.
Joe McLean, a partner in Grant Thornton’s corporate recovery practice, said: ‘The football industry, perhaps more than any other, needs to produce and adhere to a strict code of behaviour. As many clubs continue to live beyond their means, it is essential for the authorities to set some clear and unavoidable rules.’
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation