UEFA have opted not to launch an investigation into the behaviours and practices surrounding the FAI's financial affairs that came to a head in 2019, according to a media report.
The Irish Examiner reports that a source from the European football governing body said there would be no investigation into how the association was able to repeatedly misreport ‘profits’, liabilities and debts given “those responsible have left the organisation”.
A second source told the Examiner: “Uefa is anxious about highlighting its own lack of oversight, particularly when many here had suspicions about the FAI going back long before December 2019.”
The current FAI board bears no responsibility for past events involving the association.
FAI directors have attended a re-education programme in ‘Finance Essentials’ as part of measures implemented by UEFA.
Two years ago, current FAI vice-president Paul Cooke revealed he was shocked that the FAI's 2017 liabilities were listed at €21 million when the real figure was revised to a loss of €57 million.
A Deloitte report at the time found there were “a number of contracts and transactions where business justification was uncertain and sufficient approvals were not obtained”.
Mr Cooke said the figures were a lot worse “than what I would have thought”.
