Financial Doping at the UCI?

[fmk_RoI]

How did the UCI make CHF2.6 million of salaries disappear? http://cyclismas.com/2011/10/uci-accounts-1/ And what else have they done a smoke and mirrors trick on?

 

[fmk_RoI]

More on financial doping in UCI accounts. How the UCI uses special purpose vehicles (this is not an Enron reference, it happens to be what they're called) as a masking agent for income: http://cyclismas.com/2011/10/uci-accounts-2/

 

[DirtyWorks]

Are these manipulations legal? I don't know Swiss business/tax regulation to say one way or the other. It would be nice if someone with some experience could confirm some of the observations made.

Pat and Hein have proven themselves amoral time and again. So if this is some kind of trick that is okay as far as tax rules go it probably got someone an 'atta boy!' pat on the back.

 

[Velodude]

Are these manipulations legal? I don't know Swiss business/tax regulation to say one way or the other. It would be nice if someone with some experience could confirm some of the observations made.

Pat and Hein have proven themselves amoral time and again. So if this is some kind of trick that is okay as far as tax rules go it probably got someone an 'atta boy!' pat on the back.

The full detail is not available. Timing of staff turnover maybe relevant. If staff positions intended to be filled are vacant for long periods of time within a financial year the numbers do not change but the staff costs come down.

Book entries moving amounts out of a General Reserve are permissible if allowed by the UCI's internal regulations/constitutional documents. It is not uncommon.