Environmental auditing

  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 Extractive Industries Transparency Initiative

(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.

The Extractive Industries Transparency Initiative (Part II)

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.

Global efforts to combat climate change (Part II)

(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.

Accounting and financial reporting standards

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.

The State Assets Recovery Act 2017 (Final Part)

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.

State Assets Recovery Agency Act 2017 (Part II)

… 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.

The activation of the Public Procurement Commission

In the last few days, several controversial procurement issues were highlighted in the media, the latest being the Court battle and subsequent ruling in favour of the Government regarding the award of a contract for $4.6 billion for the Inter-American Development Bank-funded rehabilitation of the Guyana Power and Light’s medium voltage distribution.

Understanding the role of the Auditor General

In our column of 23 January 2017, we had stated that the Cabinet erred in assigning the transactions audit of NICIL to the Auditor General because the latter had given a “clean bill of health” on the accounts of NICIL for the years in question.

The 2016 Corruption Perceptions Index

Corruption strangles people, communities and nations. It weakens education and health, undermines electoral processes and reinforces injustices by perverting criminal justice systems and the rule of law.  

Missteps in the D’Urban Park Project

It is legally, morally and ethically wrong to deny payments to suppliers or contractors who, in good faith, have supplied goods and services or have satisfactorily executed works… In the final analysis, it is the taxpaying public that must come to the rescue of meeting the financial obligations of the Project which, with careful planning, and a highest possible degree of competitiveness, transparency and accountability, would have resulted in significant cost savings.

Today is Budget Day 2017

Today is Budget Day. It is an important day since it is the first time in the history of Post-Independence Guyana, and perhaps earlier, that we are having a budget for the fiscal year before the beginning of the year begins.