Last week’s article was the second on an examination of the Guyana 2018 Extractive Industries Transparency Initiative (EITI) Report. So far, we have dealt with revenues received by government agencies; production data; data collection and reconciliation; and reconciliation of cash flows. We also began to examine the extent to which there was compliance with the EITI Standard. Today, we conclude our coverage of the report by looking at other areas of compliance with the Standard.
Accuracy and comprehensiveness of data
Reporting templates from extractive entities and government agencies were not adequately prepared, as several weaknesses were noted during the reconciliation process. In particular, detailed payment flows are to be reported by receipt number. However, in some cases extractive entities reported aggregated figures without providing the required level of breakdown. The Guyana Gold Board did not include any receipt numbers for several revenue flows as requested by the instructions for completing the reporting templates. Similarly, extractive entities did not report receipt numbers but referred to internal payment references instead. Additionally, several reporting templates submitted by extractive entities did not include detailed information on beneficial ownership as well as production and export details.
