Major concerns over the running of boxing have been raised by the IOC Executive Board ©Getty Images

"Major concerns" have been raised by the International Olympic Committee (IOC) over governance, financial and technical issues within the International Boxing Association (AIBA) here today.

The world governing body, currently being led on an interim basis by Italy's Franco Falcinelli following the departure of Taiwan's C K Wu last month, must produce a full report outlining their solutions to these problems by the end of January.

This will come after an AIBA Extraordinary General Assembly due to take place in Dubai on January 27. 

Until then, no money will be paid to the governing body by the IOC except to facilitate the running of competitions, including the Summer Youth Olympic Games in Buenos Aires next year. 

"The IOC Executive Board has major concerns with regard to the situation in different aspects," President Thomas Bach said following the meeting today. 

"There is governance issues, there is the fact that the financial statements have not been made fully transparent, there are still questions open with regard to judging, referees and anti-doping.

"Therefore, we have asked AIBA for a full report by the end of January, because in the meantime they will have a General Assembly, so we want to see the measures they are taking to address these issues. 

"Until things will change, the IOC will not make any financial contributions to AIBA.

"We will, on the other hand, protect athletes and sports, so will work on a technical level to continue to ensure preparations for the Buenos Aires 2018 Youth Olympic Games and other events."

Franco Falcinelli is currently the interim President of AIBA ©EUBC
Franco Falcinelli is currently the interim President of AIBA ©EUBC

Wu, AIBA President since 2006, was provisionally suspended by the AIBA Executive Committee prior to his resignation after they allegedly uncovered fresh allegations of wrongdoing against the Taiwanese official.

He was given a similar sanction by the Disciplinary Commission in October and the body's ruling Executive Committee voted 14-0 in favour of keeping it in place following a two-day meeting in Dubai.

In a deal brokered last month, Wu will become Honorary President. 

Wu, who remains an IOC member but no longer sits on the Executive Board, is blamed for financial mismanagement surrounding a missing $10 million (£8 million/€8.5 million) loan reached with Azerbaijani company Benkons MMC.

He, in turn, blames his former executive director Ho Kim for facilitating the loan.

The world governing body are scheduled to move in to plush new headquarters occupying a whole floor at the House of Sport in Lausanne next year, despite the financial problems.

An independent Swiss Timing electronic draw system is also now being used to select the judges during competitions following the suspension of all 36 referees and judges used at Rio 2016 after an investigation into possible wrongdoing was launched. 

Boxing competitions at Rio 2016 received widespread criticism due to several decisions believed to be suspect.

They included Russia's Evgeny Tishchenko winning the gold medal in the men’s heavyweight final over Kazakhstan's Vassily Levit, even though he appeared to be on the back foot throughout.

C K Wu vacated his position on the IOC Executive Board following his departure as AIBA President ©AIBA
C K Wu vacated his position on the IOC Executive Board following his departure as AIBA President ©AIBA

Ireland's bantamweight world champion Michael Conlan was involved in one of the most controversial contests of the Games after appearing to dominate a quarter-final against Vladimir Nikitin before the Russian was awarded the victory.

AIBA have already increased their anti-doping expenditure after reports last year that only one out-of-competition anti-doping test had been conducted by the world body in the whole of 2014 and 2015.

Funding owed to AIBA by the IOC has already been temporarily withheld late last year before being released after a promise to address problems within the sport.

IOC discontent has also been indicated by an Executive Board decision earlier this year to remove two men's events from the Olympic programme for Tokyo 2020 in order to make way for two additional female ones.

AIBA had been hoping to add the extra female events and only sacrifice men's quotas rather than actual medal events.