This was confirmed by the IOC today after AIBA President CK Wu survived an attempt to remove him at an Executive Committee meeting in Moscow.

The IOC are currently "closely monitoring" developments to ascertain if "further action" is required, they revealed.

Wu, a member of the IOC ruling Executive Board, claims to be confident of receiving backing from National Federations at an Extraordinary General Assembly (EGM) convened for three months time.

There have been mounting concerns over AIBA finances following last year's Olympic Games in Rio de Janeiro. 

The IOC had refrained from giving any meaningful reaction of developments within boxing until now.

Their discontent was indicated by the IOC Executive Board decision 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.

"The IOC Executive Board took the preliminary decision to withhold further Rio 2016 distributions to AIBA at the beginning of December 2016," a spokesperson told insidethegames today.

"The decision was taken because of allegations concerning the financial management of AIBA, a lack of anti-doping measures and refereeing concerns raised after the Olympic boxing competitions during Rio 2016. 

"The IOC made it clear to AIBA that further payments would be released only after these three issues were addressed in a satisfactory manner."

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.

They also blame former executive director Ho Kim for a missing $10 million (£8 million/€8.5 million) loan reached with Azerbaijani company Benkons MMC.

Three criminal cases are currently ongoing against Ho in Swiss courts.

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. 

"In late December, following the IOC’s request, AIBA provided the IOC with a special investigatory report by PwC (PricewaterhouseCoopers) on past financial mismanagement issues," the IOC said in their statement.

"AIBA committed to follow up on all recommendations made by PwC.

"AIBA further informed the IOC that its Special Investigation Committee had found that there was 'no evidence leading us to believe that any results (of the Olympic Games Rio 2016) should be questioned or that any reallocation of medal rankings will be necessary for Rio 2016'. 

"AIBA also committed to review its judging and refereeing system before the Olympic Games Tokyo 2020.

"In addition, AIBA committed itself to strengthening its anti-doping programme in compliance with the World Anti-Doping Code and to significantly increasing its anti-doping budget.

"These measures were communicated to the IOC by a letter dated December 20 2016 following an Extraordinary AIBA Congress in Montreux, Switzerland.

"In response, the IOC released the AIBA payment which had been held back."

A full financial report is expected to be given at the EGM, for which a precise date and location has not yet been revealed.

IOC funding for the Olympic cycle up to Tokyo 2020 is thought to total a £14 million ($18.3 million/€15.7 million) investment. 

AIBA claim that a settlement agreement has been reached with Benkons MMC to repay the loan following reports they are now on the verge of bankruptcy. 

Benkons director Hamid Hamidov had reportedly claimed in a letter sent to AIBA executive director William Louis-Marie that there was no schedule to repay the loan that was given in 2011 and due to be repaid by 2013.

Chinese businessman Wu Di has also filed for the return of money he invested in Boxing Marketing Arm (BMA), set up to promote and sell rights for all AIBA products.

Wu Di, owner of the firm First Commitment International Trade Company (FCIT), invested CHF19 million (£15.5 million/$20 million/€17 million) into BMA but filed paperwork on May 31 requesting that his money be returned.

In May, AIBA signed an exclusive global marketing agreement with Alisports, the sport division of Chinese e-commerce giants Alibaba, leading to BMA being closed. 

AIBA claim this decision was taken by the BMA Board, including Wu Di. 

Ho is also being blamed for orchestrating the recent action by the AIBA Executive Committee.

Wu has criticised the "political manoevering" of his critics and believes he still retains the support of national governing bodies.

"Following today's statement by the IOC seeking further information on the conclusions of the Executive Committee Meeting in Moscow, AIBA duly takes note of the trust that the IOC places in it as boxing's Olympic International Federation and its recognition of AIBA's responsiveness and compliance with all of its requests to instigate greater financial and officiating transparency and more robust anti-doping commitments over the past 10 months," added Louis-Marie.

"The current governance has worked tirelessly to make up for the management and administrative mistakes of the past, and would like to reassure the IOC it will not allow the emergence of personal agendas displayed by certain members of its Executive Committee to damage the reputation of our Association and our sport."

The IOC added that they are "closely monitoring" the developments within AIBA.

"Following the decisions of the recent AIBA Executive Committee meeting on July 24, 2017, the IOC is seeking more information, to be able to determine whether further action is required within its remit," they said.