The 2022 Guyana EITI report by BDO Scholastic reveals that oil revenues compose 85% of the extractive sector. It highlights significant unreconciled differences between government and company reports and notes concerning audit statuses, with many agencies overdue for audits.
The Guyana Extractive Industries Transparency Initiative (GEITI) 2022 report, prepared by BDO Professional Services Inc., marks the sixth such report since Guyana joined the EITI in 2017. Initial discussions highlighted the revenues generated from the extractive sector and the condition of audits for relevant government agencies.
The findings in the GEITI 2022 report indicate substantial reliance on oil revenues, which accounted for 85% of total extractive sector earnings. Furthermore, discrepancies in reported figures between government entities and oil companies have raised concerns. The reported deficiencies in audit statuses of key agencies underscored the need for improved transparency and accountability mechanisms in the sector.
Original Source: www.stabroeknews.com
