New Democrat (Monrovia)

Liberia: NOCAL Set for Audit

Announcing the search for a competitive tender for a general audit of the operations of the National Oil Company of Liberia shows NOCAL's further commitment to transparency and accountability.

Already reputable international auditing firms Deloitte & Touche, Ernest & Young, and Pricewaterhouse Coopers have expressed interests in response to the tender that was announced at the weekend.

A Procurement Committee has been appointed to conduct the tender process whose winner will be announced following completion of the tender process.

The procedure, according to NOCAL, is in adherence to the laws of Liberia and, specifically, in compliance with the Public Procurement and Concessions Act (PPCA).

The announcement, the company says, is in keeping with its effort to keep the general public regularly informed of the status of its impending audit, a process that was initiated by NOCAL which remains steadfastly committed to same.

After being installed in May 2012, the new management of NOCAL decided in May 2012, as part of the reform process, requested that a collaborative audit for fiscal 2008/2009, 2009/2010 and 2010/2011 be conducted by the General Auditing Commission (GAC) and a yet to be identified international firm with a recognized and respected oil and gas accounting division, in a move to provide timely and precise information to our sole shareholders, the people of Liberia.

Ads by Google

Copyright © 2012 New Democrat. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.