World Athletics victims of £1.3m corporate theft

World Athletics are in charge of the World Athletics Championships

World Athletics says it has sacked staff and called in law enforcement after discovering corporate theft worth more than 1.5m euros (£1.3m).

The sport's international governing body said the financial fraud, carried out by two of its employees and a contracted consultant over several years, was uncovered during its first annual audit under a new financial leadership team.

One of the employees had already left before the theft was discovered earlier this year, while the other and the consultant had their contracts terminated following an internal investigation.

It added detailed cases were handed over to judicial and legal authorities for criminal investigation.

World Athletics president Sebastian Coe said the organisation was "determined to recover whatever monies we are able using the full force of the law".

"Too many organisations brush incidents like this under the carpet, terminating employment with limited information, which allows perpetrators to continue their scams and thefts within new organisations," he added.

"We are not that type of organisation. We have built a strong reputation for good governance, transparency and for defending what is right, even if it is sometimes a little uncomfortable.

"This is uncomfortable but it is important that we do the right thing."

The governing body said it will also introduce "a set of enhanced internal financial controls" to prevent future frauds.