KIGALI (Reuters) – Formula One’s governing body approved statute changes on Friday that critics say will limit the powers of audit and ethics committees.
The International Automobile Federation (FIA) said the revisions were approved at its general assembly in Kigali ahead of a gala awards ceremony for the year’s various championships in the Rwandan capital.
Motorsport UK head David Richards has voiced concern about a move that hands FIA president Mohammed Ben Sulayem and senate president Carmelo Sanz de Barros oversight of any ethics complaints.
The head of Austria’s motorsport federation Oliver Schmerold also told the BBC that the changes would reduce accountability at the FIA and were “not good governance”.
The FIA, also the governing body for rallying and electric Formula E, said in a statement the ethics committee will retain its independence and had the powers to assess independently whether or not to launch an investigation.
It added that limiting the distribution of any report was also a response to “continuous leaks to the media” and would also protect those making complaints and individuals under investigation.
The proposed amendments to the audit committee clarified its status as an advisory and support body to the Senate, it said.
“The Audit Committee retains its powers to assist and investigate if asked to do so by the president of the senate,” stated the note.
The governing body also announced an expected return to profit in 2024.
“The FIA forecasts an operating result of 2.2 million euros ($2.31 million) in 2024, a remarkable improvement given that it stood at -24.0 million in 2021,” it said in a statement.
“The forecast operating result would be the best of the last seven years and the first positive one since 2018.”
Ben Sulayem said the turnaround was the result of reform “in the areas of governance and finance” and put the organisation on a more sustainable financial footing.
($1 = 0.9531 euros)
(Reporting by Alan Baldwin in London, editing by Toby Davis)
Comments