CASTRIES, ST LUCIA, May 26, 2026 – Alfred
Emmanuel says the decision by the St Lucia Olympic Committee (SLOC) Inc. to
publicly release audited financial statements was driven by a desire to promote
transparency and dispel misconceptions surrounding the use of Olympic funding.
Speaking during Saturday’s
edition of the TalkSports programme, Emmanuel said sports organisations must be
prepared to openly account for how funds are distributed and utilised,
particularly at a time when governance and accountability continue to face
growing scrutiny across the Caribbean sporting landscape.
“Well, I cannot speak for
others,” Emmanuel said when asked why few National Olympic Committees in the
region publicly release audited financial statements.
“All I can say is that it’s a
mandate, I believe, of the IOC and the funding agencies of NOCs for them to
have annual audited financial statements.”
The veteran sports administrator
noted, however, that while the preparation of audited accounts may be required,
making those statements publicly available is often left to the discretion of
individual organisations.
“The reason for not making it
public, I cannot speak for that,” he added.
Emmanuel explained that shortly
after becoming President of the SLOC, he decided the organisation should adopt
a more open approach to financial reporting in order to build confidence among
stakeholders and eliminate speculation regarding the management of Olympic
funds.
“My reason for making it public
since I’ve become President of the St Lucia Olympic Committee is to dispel any
notion,” he stated.
“There are lots of
misconceptions, lots of myths as to what the money is being used for, who is
enjoying it for themselves and who is enjoying it for themselves and the
family.”
His comments reflect wider
concerns that have periodically surfaced across regional sport regarding
transparency, governance standards, and the management of funding provided by
the International Olympic Committee, Olympic Solidarity programmes,
governments, and private sector partners.
Emmanuel believes public
disclosure helps reinforce accountability and demonstrates that funds are being
distributed appropriately among member federations and sporting programmes.
“So we need to put it in the
public domain so they can see for a fact what we are doing with the monies,” he
explained.
“Our annual reports will clearly
identify the various members, the quantum they have received and whatnot.”
The SLOC President described the
organisation as “an open book” and said transparency should never be viewed as
a threat by sporting bodies operating in the public interest.
“We have absolutely nothing to hide,” Emmanuel declared. “And as such, we have put out our finances for public scrutiny.”
Several sporting organisations
across the region have faced criticism over governance disputes, financial
management concerns, and limited public reporting, prompting increasing demands
for reforms and higher standards of accountability.
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