Finance & Audits

Financial management

The financial management of WBSC is ensured at many levels.

The Congress (the general assembly of the 200+ affiliated members), as the foremost body, defines how the federation’s finances are managed by assigning responsibilities and laying out the roles of, respectively, the Executive Board, the President and the Secretary general (cf. WBSC’s Constitution). The Executive Board approves, by vote, the yearly budget, the annual accounts and all amendments to WBSC’s Financial Regulations. It is also responsible for selecting the type and the level of requirement of the control (external and internal) it wishes to see applied to the federation’s financial management.

Although WBSC constitutes an association (art. 60ss of the Swiss Civil Code) non subject to regular audits under article 69b CC, the Congress has chosen to voluntarily submit the accounts of the federation to external scrutiny by registered statutory auditors (restricted control).

The external auditors must meet the legal requirements for approval requisite and independence. The WBSC Office recommends the external auditors to the Executive. They are then chosen by vote by the Congress and will serve in that capacity for four years (renewable). The external auditors carry out a yearly audit on the accounts and report to the Congress.

The Executive Board consists of the President, the Secretary general, two Executive vice-presidents (for Baseball and for Softball), two vice-presidents, the Treasurer, two Athlete Representative (for Baseball and for Softball), four At Large Members (at least one from each gender, two representing Baseball and two representing Softball), the Executive Director (without vote) and an Honorary President (upon proposal by the Executive Board, without vote). Together, they hold the responsibility to organize and ensure a financial management that complies with the requirements of the Congress. They review the budget and the yearly accounts of WBSC prepared together by the Treasurer, the Executive Director and the finance department. The Treasurer, together with the Executive Director and the finance department prepare, additional to the yearly budget a four-Year financial perception and cashflow estimation.

The Treasurer together with the Executive Director and the finance department at least one-time monthly check the budget related to the income and expenses and prepare quarterly an internal audit. The Treasurer prepares a minimum of 2 financial statements and report this to the Executive Board. In case of significant differences between the P+L and the Budget, long-term perception and cash flow estimation immediate measures must be set, including the adjustment of the budget, which has then to be presented again to the Executive Board for approval.

The Treasurer and the Executive Director direct day-to-day the qualified staff at work in the headquarters of the federation in Switzerland, including the employees of the finance department. They are empowered to legally commit the federation (signature according to the registration on the Register of Commerce of the canton of Vaud). They must validate all the financial operations.

The Finance Department consists of qualified employees. It is principally concerned with ensuring that records are kept properly and in accordance with the provisions of the Swiss law, the accounting of debtors and creditors, investment activities and the preparation of financial statements.

All the financial operations of the WBSC must be validated through a 3-level system, with the finance department registering through the accounting system/program all financial operations and transactions, the Executive Director (alternative a Chief Financial Officer) double checks and countersigns invoices and the Treasurer then validates payments through the online system.

Remuneration and expense allowance

The Executive Board members (elected) are not remunerated with the exception of the President who, according to WBSC’s Constitution, have the right to receive compensation for the time dedicated to the federation’s activities. The Executive Board members have the right to receive compensation for their travel and accommodation expenses and the representational costs resulting from their activities for the federation. Regarding the representational costs, a per diem indemnity of USD 200.- (two hundred US Dollars) is planned. Other expenses are reimbursed upon presentation of supporting documents (real costs).

For 2022, the total amount of costs incurred by Executive Board members for their federation-related activities was of CHF 281’192.-, including:

• Travel expenses: CHF 152'269.-
• Accommodation expenses: CHF 59'627.-
• Per diem indemnity: CHF 69'296.-

The headquarter qualified staff is remunerated in accordance with the Swiss standards and administered in full compliance with Swiss law.

資料名
Travel & Business Expenses Policy

Financial statements

The financial statements presented at the bottom of the page are the statements reviewed by the official auditors (PWC + Fibexa) selected by WBSC and approved by the Congress.

The auditors are appointed by the Congress.

Audited accounts for 2023 to be published after approval by the Congress in its next meeting.

For more information, please contact finance@wbsc.org.

Useful links:

www.pwc.ch (external auditors until 2019)
www.fibexa.ch

Financial Reports

資料名
Audit Reports 2017
Audit Reports 2018
Audit Reports 2019
Audit Reports 2020
Audit Reports 2021
Audit Reports 2022