World Bank weighs in on selecting audit firm for EITI report

Besides the tripartite – government, the company and civil society organisations – responsible for piling report for implementing Extractive Industries Transparency Initiative (EITI), the World Bank (WB) joined in selecting independent audit firm.

“We have opened tender for audit firm from abroad, and before long the World Bank joined us. According to procedure, the tender is to be called this month so we will meet the report’s deadline. The firm in conformity with the rules and regulations of EITI Board and World Bank will win,” said Min Zarni Lin, the deputy chief of Myanmar EITI Implementation Team.

The audit firm will be tasked with reviewing incomes from extraction of resources in accord with international criteria.

The WB holds its own set of criteria in selecting audit firm: quality insurance and cost benefit.

Myanmar, as a candidate of EITI, is supposed to submit the report specified on the country’s mining sector to EITI Secretariat not later than January 2016 [within 18 months after a country is approved as a candidate] to become a full-fledge member.

CSOs considered reporting the plight of land-grabbed locals due to Letpadaungtaung copper mining project to EITI Board as the case clearly breached the commitments the government made for its membership.

Source: Eleven Myanmar

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