Russia sign up auditors who helped Sochi win 2014 Olympics to World Cup bid

By Duncan Mackay

January 11 – Russia tonight announced BDO, part of the world’s fifth-large global network of independent auditors and a company which worked on Sochi’s successful campaign to host the 2014 Winter Olympics, as a supporter of their bid to host the 2018-2022 World Cup.

The company, based in Moscow, has signed an agreement with the Bid Committee which provides for substantial consulting support including in the areas of management and finance.

Alexey Sorokin, the chief executive of the Bid Committee and the Russian Football Union (RFU), said: “The compilation of the comprehensive bid documents as well as the coordination of our work with a large number of private and Governmental stakeholders require a great deal of legal, financial, auditing and consulting expertise.

“With BDO in Russia the Bid Committee can count on highly specialised knowledge in these crucial areas.”

Mikhail Grishakin, the managing partner of BDO in Russia, said: ”BDO is honoured to associate itself with
Russia’s bid for the most important single sports event in the world by making its extensive audit, consulting experience and knowledge available.

“Today, sport in general and football in particular require such services and we are pleased to be at the forefront of this domain.

“BDO has extensive professional sports event experience including a long-term partnership with the Russian Football Union as well as consulting support to bid campaigns held under the auspices of many interdnational sport federations and the International Olympic Committee.

“Wide regional coverage of BDO in Russia is also an important factor, as the preparation of the Bid Book will require taking into consideration interests of 12 Russian Federation Regions.

“Currently, BDO in Russia is an official consultant for the Russia 2018/2022 Bid Committee, a sponsor of the national football team and an official RFU partner and auditor.”

BDO helped write several chapters of Sochi’s bid book, the document which helped the Black Sea resort cause a major upset when they were awarded the 2014 Olympics at a meeting in Guatemala City in 2007.

Grishakin said: ”BDO in Russia was a general consultant for the Sochi 2014 Olympic Winter Games Bid Committee and since 2003 the company has been an outside auditor for the RFU, as well as to its consultants in the areas of accounting and taxation.

“It has also audited the RFU’s FIFA allocated funds used to develop football in Russia.

“Since 2004, BDO has actively participated in the licensing procedure for Russian football clubs under UEFA requirements. Integration into the international sports network will enable BDO in Russia to utilise the combined experience of its offices around the world to best serve the RFU.

“We believe that Russia has a strong chance to win their bid for the World Cup.

“We are happy to strengthen our relationship with the RFU and to assist in organising and staging this honourable football event with such a global impact.”

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