CFU Information Release - CUFC audit of accounts for 2017/18

"On behalf of the CFU Trust Board, I welcome the appointments announced today of Godric Smith and Duncan Foyle at Cambridge United FC.

Godric is a long term friend of the Club, both as a supporter and, more recently as a major sponsor.  Cambridge United fans may remember Godric’s key role, working with CFU, in saving the Club from liquidation in 2005 when he used his contacts in Government to secure the intervention of the Sports Minister, Richard Caborn.  He will, I am sure, be a huge asset to the CUFC Board.

Dave Matthew-Jones, the Fans Elected Director, was involved in the interview and recruitment of Duncan.  Dave was very impressed and expects the Club to benefit greatly from his experience and expertise.

The CFU Trust Board also applauds the decision of the Club to subject its 2017-18 accounts to an independent audit.  Following the significant financial losses incurred by the Club during 2016-17, CFU has been in discussion with the Club as to how it might offer assurances to shareholders (and the wider fanbase) as to its financial position and future governance.  We believe an external audit of the kind announced by the club will help to do just that.  To this end the Club will allow CFU to work with them on the scope and terms of reference of the audit."

Robert Osbourn, Chair CFU