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

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Dagon City", “MOGE”, “yangon stock exchange”,"MECTEL", "hydropower", etc.

To learn about the business opportunities in Myanmar click here

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page "Actual Sample of Client Report”. Click here to go to page.

Do you know that IE Singapore is giving up to SGD 20,000 support for Singapore company to venture into Myanmar? To learn more click here

If you are interested to be listed in our Service Provider Directory as a supplier of services or products that we can use to match with the needs of our clients in Myanmar please fill up the online form by clicking here