The IOC publishes its 2018 Annual Report and financial statements
The International Olympic Committee (IOC) today published its 2018 Annual Report and financial statements following approval by the Members at the 134th IOC Session in Lausanne.
Now in its fifth edition, the IOC Annual Report 2018: Credibility, Sustainability and Youth, is a direct result of Recommendation 29 of Olympic Agenda 2020 to “Increase Transparency”. In addition to describing the activities of the IOC during the year, it contains the audited financial statements for 2018, including the Members’ indemnity. In the interests of full transparency and disclosure, the financial statements are prepared and audited according to International Financial Reporting Standards (IFRS), even though the IOC is not legally obligated to comply with these higher standards.
Highlights from 2018 include the Olympic Games PyeongChang 2018, where athletes put on some truly stunning performances, watched my more than a quarter of the world’s population. Meanwhile, the Opening Ceremony where athletes from the host nation marched together with their neighbours from the Democratic People’s Republic of Korea under one flag, embodied the true spirit of Olympism and demonstrated what can be achieved when we set aside our differences and come together in the spirit of healthy competition.
Then on to Buenos Aires for the Summer Youth Olympic Games. This event, where near complete gender parity was achieved, was staged largely in an urban setting and attracted some 1 million spectators, many of them youngsters. At the same time, the IOC hosted the first Olympism in Action Forum which brought together 2,000 participants who debated issues central to the Olympic Movement including the future of the Games and integrity in sport.
Throughout the year, the IOC continued its commitment to the athletes by launching new athlete-focussed initiatives to assist them on and off the field of play. Key among these was the adoption of the Athletes’ Rights and Responsibilities Declaration, developed by and for athletes following a worldwide consultation. Major efforts were also deployed to address the candidature process with the adoption of the Olympic Agenda 2020/New Norm, a set of measures intended to reimagine how the Games are delivered and helping host cities to organise an event that is more flexible, sustainable and affordable. Meanwhile, the IOC continued its commitment to gender equality: PyeongChang 2018 featured 41.3 per cent female athletes, a winter Games record, while membership of IOC Commissions rose to 42.7 per cent, up 98 per cent since 2013 – a figure that has now increased in 2019. The IOC continued to engage with civil society organisations, notably the United Nations, as part of its vision to create a better world through sport. And underpinning all these activities was a continued commitment to sustainability and good governance.
As it celebrates its 125th anniversary, the IOC continues to be in a position of strength and stability, which is also reflected in the continued confidence of our partners and stakeholders. Writing in the report, IOC President Thomas Bach said, “In this Olympic spirit, and building on the momentum from this past year, we can look ahead to the future with confidence and optimism”.