The 11th meeting of the ANOC Finance and Audit Commission was held virtually ©ANOC

The Association of National Olympic Committees (ANOC) Finance and Audit Commission reviewed the organisation's budget at its 11th meeting, which was held virtually.

Members of the Commission normally meet at the ANOC headquarters in Lausanne but COVID-19 restrictions meant this was impossible this time.

Ethiopia's Commission chair Dagmawit Berhane led the meeting while members Kenneth Kramer of the Marshall Islands, Peter Mennel of Austria and Julio Perez of Uruguay took part.

They were joined by Beresford Caloia of PwC and finance director Manuela Palos.

"The Commission was informed on the realisation of the budget during the year 2020 where the ANOC activities were very affected by COVID-19, as most of the activities or events were cancelled or postponed," ANOC said.

The next meeting of the Finance and Audit Commission is planned for alongside the ANOC General Assembly in Seoul ©ANOC
The next meeting of the Finance and Audit Commission is planned for alongside the ANOC General Assembly in Seoul ©ANOC

"The Commission revised the report presented by ANOC external auditor, PwC, on the audit of the financial statements of 2020 and the report will be presented to the next meeting of the ANOC Executive Council for approval.

"The Commission was informed of the budget for 2021 to 2024 and received the information on the realisation of the budget for the first quarter of 2021."

The next meeting of the Finance and Audit Commission is planned for alongside the ANOC General Assembly in Seoul, which is scheduled for October 26 and 27.

South Korea's capital was due to host the 2020 Assembly, but this was cancelled due to COVID-19.