Cash-strapped PCB sends disapproved audited accounts to ICC

Cash-strapped PCB sends disapproved audited accounts to ICC

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The PCB has sent its accounts for the fiscal periods 2007 and 2008, up to December 8, to the ICC as this is mandatory to get funds which are due to Pakistan as part of its share of the ICC earnings from various events.

A PCB spokesman confirmed that the accounts had been sent to the ICC - a surprising move that came days after governing council had met in Lahore and refused to approve the accounts as well as the budget for the current fiscal year.

"It is news to us that the PCB has sent these accounts to the ICC because the council had specifically said it would meet again on November 7 to discuss and approve the accounts," a council member said.
Various discrepancies have been noted in the audited accounts for the tenure of Nasim Ashraf, who was chief of the PCB from October 2006 to October 2008.

Jamshed Dasti, Chairman of the National Assembly Standing Committee on Sports had publicly stated that the auditors had found discrepancies worth millions of rupees in the accounts and the PCB Chairman Ejaz Butt was doing nothing about it.

Sources in the PCB also said that as far as the ICC was concerned the member boards have to submit audited accounts to the ICC for release of funds to the boards.

The sources said that Pakistan and the West Indies were among the few nations whose share of revenue from the ICC was held up because they did not submit their audited accounts on time.
Member boards are required to submit accounts by the end of December every fiscal year.
Another source in the PCB said that it had become imperative to send the audited accounts to the ICC because the PCB wanted a smooth flow of cash to meet increasing expenses.
"We have been forced to play our home series at offshore venues like the one against New Zealand next month in Abu Dhabi and Dubai. So we need cash flow," the source said.