The International Association of Athletics Federations has cancelled its annual awards gala amid the corruption allegations rocking track and field’s governing body.

The ceremony, which honours the world’s top male and female athletes of the year, had been scheduled to be held in Monaco on 28 November.

The IAAF president, Sebastian Coe, said: “Given the cloud that hangs over our association, this is clearly not the time for the global athletics family to be gathering in celebration of our sport.”

The decision comes after the former IAAF president, Lamine Diack, was placed under criminal investigation in France on charges of corruption and money laundering. He is suspected of taking more than €1m to cover up positive doping tests.

Lord Coe says the IAAF will still present the awards to the winning athletes.