Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

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Which Candidate Should the ECF Support in the FIDE Presidential Election?

Poll ended at Mon Oct 01, 2018 8:05 am

Arkady Dvorkovich
5
11%
Georgios Makropoulos
9
20%
Nigel Short
22
48%
None of the Above
10
22%
 
Total votes: 46

Kevin Thurlow
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Kevin Thurlow » Tue Oct 02, 2018 10:34 am

"Head of FIFA, Gianni Infantino, in a message shown at Dvorkovich's party tonight.

"There are many synergies between FIFA and FIDE..."

True, but not desirable.

Angus French
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Angus French » Tue Oct 02, 2018 11:00 am

FIDE General Assembly documents including the accounts and the Verification Commission's report on the same are here.
Chris Rice wrote:
Mon Oct 01, 2018 10:58 pm
Nigel is really giving FIDE a hard time over the financials. This is something he really does well:

"From the FIDE Verification Commission:
The subsequent events note #6 in the audited financial statement says that as of June 28 there were no events or transactions of note since 12-31-17. Does having your bank shut down not rate a mention?"
The accounts cover the calendar year 2017. The loss of the bank account was in early 2018 (as reported on this forum for example). Would accounts commentary normally cover events which occur after the accounting period? (Genuine question; I don't know.)
Chris Rice wrote:
Tue Oct 02, 2018 7:40 am
...Nigel:

"FIDE does not use internationally accepted accounting standards (IFRS) in its financial statements. Is this because FIDE has never heard of them, or because it suits some other purpose not to? Why, for example, is there no cash flow statement?"
I thought cash flow statements were for large commercial outfits. Do other international sports bodies provide them?

Chris Rice
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Chris Rice » Tue Oct 02, 2018 11:34 am

Angus French wrote:
Tue Oct 02, 2018 11:00 am
FIDE General Assembly documents including the accounts and the Verification Commission's report on the same are here.
Chris Rice wrote:
Mon Oct 01, 2018 10:58 pm
Nigel is really giving FIDE a hard time over the financials. This is something he really does well:

"From the FIDE Verification Commission:
The subsequent events note #6 in the audited financial statement says that as of June 28 there were no events or transactions of note since 12-31-17. Does having your bank shut down not rate a mention?"
The accounts cover the calendar year 2017. The loss of the bank account was in early 2018 (as reported on this forum for example). Would accounts commentary normally cover events which occur after the accounting period? (Genuine question; I don't know.)
I take your point but the Verification Commission appears to be saying that since 31/12/17 to 28/6/18 there were no events or transactions of note and I can therefore understand the point made that having no bank account was worth a mention.
Angus French wrote:
Tue Oct 02, 2018 11:00 am
Chris Rice wrote:
Tue Oct 02, 2018 7:40 am
...Nigel:

"FIDE does not use internationally accepted accounting standards (IFRS) in its financial statements. Is this because FIDE has never heard of them, or because it suits some other purpose not to? Why, for example, is there no cash flow statement?"
I thought cash flow statements were for large commercial outfits. Do other international sports bodies provide them?
Not sure where the distinction comes from as I thought all firms or sports bodies etc have to supply cash flow statements. Its to show their liquidity and solvency. Its just normal accounting so I can understand why the question was asked. Whether FIDE have some sort of exemption I don't know. Perhaps they will let us know in due course.

Mick Norris
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Mick Norris » Tue Oct 02, 2018 12:04 pm

Angus French wrote:
Tue Oct 02, 2018 11:00 am
FIDE General Assembly documents including the accounts and the Verification Commission's report on the same are here.
Chris Rice wrote:
Mon Oct 01, 2018 10:58 pm
Nigel is really giving FIDE a hard time over the financials. This is something he really does well:

"From the FIDE Verification Commission:
The subsequent events note #6 in the audited financial statement says that as of June 28 there were no events or transactions of note since 12-31-17. Does having your bank shut down not rate a mention?"
The accounts cover the calendar year 2017. The loss of the bank account was in early 2018 (as reported on this forum for example). Would accounts commentary normally cover events which occur after the accounting period? (Genuine question; I don't know.)
Chris Rice wrote:
Tue Oct 02, 2018 7:40 am
...Nigel:

"FIDE does not use internationally accepted accounting standards (IFRS) in its financial statements. Is this because FIDE has never heard of them, or because it suits some other purpose not to? Why, for example, is there no cash flow statement?"
I thought cash flow statements were for large commercial outfits. Do other international sports bodies provide them?
My experience as a shareholder of Bury FC is that we always see post year-end event statements (normally but not always negative), but not cashflow; so, I'd have expected the loss of bank account to be mentioned in the accounts (obviously, I know nothing about international accounting rules, so I wouldn't read too much into it)
Any postings on here represent my personal views and should not be taken as representative of the Manchester Chess Federation www.manchesterchess.co.uk

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JustinHorton
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by JustinHorton » Tue Oct 02, 2018 3:18 pm

Funny, football's where I first stared reading accounts too.
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Simon Brown
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Simon Brown » Tue Oct 02, 2018 3:37 pm

I imagine FIDE as an association has statutes which govern its financial reporting, so it may not have to comply with IFRS. But accounting standards worldwide are being harmonised so I would nevertheless expect the accounts to look like IFRS - Swiss GAAP and IFRS are very similar. As for the post balance sheet event, if there was no loss of assets there is probably no technical need to report it as it wouldn't materially impact a user of the accounts. That said, given that everyone knows about it, you arguably draw more attention to the fact by not reporting it than by mentioning it en passant, as the well-coached Nigel has demonstrated.

Chris Rice
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Chris Rice » Tue Oct 02, 2018 8:56 pm

Election tomorrow morning in the Sheraton Hotel in Batumi. The candidates have gone quiet...

NickFaulks
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by NickFaulks » Tue Oct 02, 2018 10:42 pm

Back from the pre-election parties. I have to say that the Dvorkovich one had a celebratory feel, the organiser / Makro one not so much, but that may mean little.
If you want a picture of the future, imagine a boot stamping on a human face — forever.

Nick Grey
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Nick Grey » Tue Oct 02, 2018 11:25 pm

Almost sounds as bad as FIFA. A lot of reps bribed. I would expect IFRS but then again I'm an accountant that loves Monty Python.

Chris Rice
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Chris Rice » Wed Oct 03, 2018 6:50 am

We're off. The General Assembly has started and the Presidential election is one of the first items on the Agenda.

NickFaulks
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by NickFaulks » Wed Oct 03, 2018 6:54 am

General Assembly. We haven't even got to the roll call yet and already Makro, chairing the meeting of course, is screaming that his opponent is a corrupt tool of the Kremlin. His supporters shout and bang their tables. Should be a good one!
If you want a picture of the future, imagine a boot stamping on a human face — forever.

Chris Rice
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Chris Rice » Wed Oct 03, 2018 6:57 am

Indeed chaotic start of the assembly, with even the respected chairman of the Electoral Commission Roberto Rivello being cut off by Makro. Now Boris Kutin defends giving his proxy to the Makro team against his federation because he was in the hospital.

Chris Rice
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Chris Rice » Wed Oct 03, 2018 6:59 am

Roll call started of the 189 federations, 4 not entitled to vote, 19 proxies.

Chris Rice
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Chris Rice » Wed Oct 03, 2018 7:04 am

Earlier, after the non-voting rights of provisional member Haiti was discussed, Bachar Kouatly mentioned irregularities regarding the Slovenia and Saudi-Arabia federations. Makro said “lack of respect” that Kouatly didn’t ask question. Then started angry rant.

Chris Rice
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Re: Which Candidate Should the ECF Support in the FIDE Presidential Election? (Take 2)

Post by Chris Rice » Wed Oct 03, 2018 7:05 am

Makro and Yazici having a fag outside during roll call.

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