Audit is not an end in itself, but an indispensable part of a regulatory system whose aim is to reveal deviations from accepted standards and violations of the principles of legality, efficiency, effectiveness and economy of financial management early enough to make it possible to take corrective action in individual cases, to make those accountable accept responsibility, to obtain compensation, or to take steps to prevent or at least render more difficult, such breaches.
The Audit Office of Guyana was established in 1884 as a Colonial Audit Department.
Another iceberg about four and a half times the size of Manhattan and measuring some 103 square miles in surface area, has broken off Antarctica.
Last Wednesday, the cities of San Francisco and Oakland in California filed separate lawsuits against five oil companies – ExxonMobil, Chevron, ConocoPhillips, BP and Royal Dutch Shell – seeking compensation to protect them against rising sea levels which they blame on climate change.
(Part III) Climate change is no longer an issue of the future. It is here and is staring at us as we witnessed the catastrophic effects of Hurricane Harvey that descended upon Houston, Texas, causing damage estimated at US$90 billion and a death toll of at least 70.
This column has been hesitant to comment on the recent visit to the Houston headquarters of ExxonMobil by five Ministers of the Government, the Petroleum Advisor to the President and two staff members of the Ministry of Natural Resources, until the fact are known as to the purpose for the trip and the source of funding.
A country’s natural resources, such as oil, gas, metals and minerals, belong to its citizens.
Where public resources are concerned or where the public interest is involved, there must be the highest degree of transparency in relation to the actions of both elected and non-elected public officials.
The news out of Nigeria, an oil producing nation, is that the court has ordered the seizure of a luxury apartment block owned by a former Minister of Petroleum Resources bought for US$37.5 allegedly from ill-gotten gains.
(Trump’s departure) doesn’t change the bigger picture: the moral, political, and economic incentives all seem to be aligning in favor of staying with the Paris agreement… It would be a morally criminal act for the world not to do its part.
It is right to save the future for humanity. It is wrong to pollute this earth and destroy the climate life balance.
The Board of the Georgetown Public Hospital Corporation (GPHC) investigated the circumstances surrounding the procurement of drugs and medical supplies early this year in the sum of $632 million.
This column has been following closely the deliberations of the just concluded symposium at the Guyana Pegasus on “Public Corruption and the Oil Curse”.
The Earth is under threat from so many areas that it is difficult for me to be positive.
In last week’s article, we referred to the two recognized methods of accounting for costs relating to the exploration, development and production of crude oil and natural gas: the “successful efforts” (SE) method and the “full cost” (FC) method.
In our article of 15 May 2017, we referred to the announcement by ExxonMobil of “a world-class resource discovery of 1 billion oil-equivalent barrels” in Guyana’s waters.
The pollution produced by companies which operate in less developed countries in ways they could never do at home, in those countries in which they raise their capital: We note that often the businesses that operate this way are multinationals.
In the news last week, more than 2,000 Tunisians protested in the country’s capital against proposed legislation that would provide amnesty in exchange for reimbursing the embezzled funds for officials being prosecuted for alleged corruption.
The U.S. Embassy in Kenya has suspended approximately US$21 million in assistance to Ministry of Health because of concerns about corruption.
Demerara Waves reported Dr. Kalim Shah, Climate Change and Energy Policy expert, and Professor at Indiana University, as having stated as follows at a recent conference held in Belize: Even though our countries are not responsible for significant greenhouse gas emissions in the global scheme of things, we are experiencing and projected to experience many of the effects of climate change on the frontlines.
… we are conscious of the disproportionate and unruly growth of many cities, which have become unhealthy to live in, not only because of pollution caused by toxic emissions but also as a result of urban chaos, poor transportation, and visual pollution and noise.