Monrovia – The Liberia Extractive Industries Transparency Initiative (LEITI) over the weekend conducted a one-day technical workshop on the submission of payment and revenue data for the 9th EITI Report for Liberia.
LEITI hired Parker & Company LLC of Liberia in association with Moore Stephens LLP of the United Kingdom as the Independent Administrator to prepare Liberia’s 9th EITI Report of revenue data and contextual information covering the fiscal year July 1, 2015 to June 30, 2016.
In furtherance of the terms of engagement, the Independent Administrator and the LEITI Secretariat held a one-day technical workshop for all reporting stakeholders – companies and relevant government entities on Friday, November 24, 2017 the Golden Key Hotel in Paynesville.
According to an LEITI release, the workshop is aimed at preparing and supporting reporting entities to compile and submit payment data and contextual information, using updated LEITI reporting templates.
All oil, mining, forestry and agriculture companies operating in Liberia who made payment(s) to the Government of Liberia (GOL) during the Fiscal Year July 1, 2015 to June 30, 2016 attended the workshop.
Briefing the Multi-stake holder Steering Group (MSG) meeting recently, the Head of Secretariat Mr. Konah D. Karmo reiterated the need for a collective effort to ensure a smooth conduct of the data collection process for the Report.
Mr. Karmo further stated that collective efforts by stakeholders will guarantee that the Report is compliant with the LEITI Act and the LEITI Standard, released in 2016 in Lima, Peru.
Preparation of Liberia’s 9th Reconciliation Report is in fulfillment of the EITI Standard, requiring implementing countries to undertake annual reconciliation and publication of payments and revenue data, as well as contextual information from the extractive sectors.
The technical workshop was an inception of the data gathering process by the Independent Administrator, working along with all relevant stakeholders in the reporting process, including government ministries and agencies.
The Liberia Extractive Industries Transparency Initiative (LEITI) is a part of the global Standard-the Extractive Industries Transparency Initiative (EITI)-that promotes revenue transparency in the extractive sectors in resource rich countries.
It strives to ensure transparency over payments made to and revenues received by the Government from companies in the concerned sectors
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