Sierra Leone is in the process of producing its fourth Extractive Industries Transparency Initiative (EITI) report, covering the fiscal year 2012.
This is an EITI standard requirement which includes a comprehensive government disclosure of revenues in the extractive industries and all material payments to government by oil, gas and mining companies.
In this regard, all government agencies, exploration, mining, oil and gas companies are advised to reconcile their financial records, in preparation for production of the 2012 report. To facilitate reporting, the relevant template will be distributed shortly, with strict deadlines for submission. The SLEITI Secretariat takes this opportunity to assure all concerned that adequate support will be provided throughout the reporting process.
In order to ensure credibility of the data provided, the external auditors of companies are required to confirm that the information provided are comprehensive and consistent with their audited financial statements, while government disclosures are to be certified by the Auditor General.
Sierra Leone has been a member of the EITI since 2006 which promotes transparency and accountability in the mining, oil and gas sectors.
Meanwhile, the procurement process for hiring the independent administrator who will lead the report production process, is in progress and the expression of interest (EOI) from six firms, including three local, have been evaluated. The evaluation committee is moving to the next stage of the procurement process.