Published: 01 December 2018
Written by IQA Staff
The International Quidditch Association (IQA) is writing to let you know of a misstatement in its financial statements for the IQA fiscal year ended Aug. 31, 2017. In the financial statements (page 7) the IQA reported that European Games incurred a loss of ~500 Euros. This correct amount was in fact ~4,100 Euros.
After the organization closed its accounts for last year, it paid additional expenses of ~3,600 Euros. The revenue for this tournament was held, at the IQA’s request, by the Norwegian national governing body (NGB), Norges Rumpeldunkforbund and the IQA only discovered the discrepancy recently in trying to reconcile its finances and collect the outstanding money owed from the Norwegian NGB.
The IQA wants to emphasize that the Norwegian NGB did nothing wrong, the fault is on the IQA for failing to attempt to collect in a timely manner, failing to notice the error, and failing to adequately oversee the tournament committee.