The Ministry of Skill Development, Entrepreneurship, Youth Affairs and Sports has asked the IOA and the National Sports Federations (NSFs) to place their audited annual accounts and their balance sheet on their website by 30th June of every year for the accounts relating to the previous financial year. IOA and the NSFs are required to get their accounts audited by Chartered Accountants on the panel of the CAG. In a communication sent to the all concerned, the Ministry said, failure to follow the instructions may entail stoppage of financial assistance, non renewal of recognition etc.
The latest communication in this regard issued on 15th October, 2014 has referred two previous communications dated 17th July, 2014 and 6th August, 2014 to IOA and NSFs on utilization of funds by the National Sports Federations and Suo-moto disclosure of information for the various activities carried out by the National Sports Federations.
The Ministry has noticed that IOA and most of the NSFs have not furnished information sought earlier. It is also noticed that the NSFs are not hoisting the information on their website with regard to their important activities such as details of ACTC, annual audited accounts and balance sheets etc.
The latest communication from the Ministry has conveyed to the IOA and NSFs that all the aforesaid instructions shall form integral part of the National Sports Development Code of India, 2011.
The latest communication in this regard issued on 15th October, 2014 has referred two previous communications dated 17th July, 2014 and 6th August, 2014 to IOA and NSFs on utilization of funds by the National Sports Federations and Suo-moto disclosure of information for the various activities carried out by the National Sports Federations.
The Ministry has noticed that IOA and most of the NSFs have not furnished information sought earlier. It is also noticed that the NSFs are not hoisting the information on their website with regard to their important activities such as details of ACTC, annual audited accounts and balance sheets etc.
The latest communication from the Ministry has conveyed to the IOA and NSFs that all the aforesaid instructions shall form integral part of the National Sports Development Code of India, 2011.
