President Sebastian Coe also took the Council through his reform programme.
He has asked Paul Deighton, former CEO of LOCOG and UK Government Minister, to oversee the programme which will be carried out by Deloitte.
Forensic accountants from Deloitte and the leading legal firm Freshfields began work at the IAAF HQ yesterday. He also told the Council that he will create an integrity unit for athletics consisting of an independent integrity board and review panels.
The unit will cover all areas of integrity for international level athletes and athlete support personnel (anti-doping, illegal betting, anti-corruption, transfers of allegiance and age manipulation.