Sunday, February 5, 2023

Lone company submits bid to prepare Guyana’s third EITI report

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BDO LLP, a consultant firm based in the United Kingdom, is the only company to successfully submit a tender to prepare Guyana’s third Extractive Industries Transparency Initiative (EITI) report.

This consultant’s tender was opened on Tuesday at the National Procurement and Tender Administration Board’s head office in Georgetown. According to the tender evaluation minutes, BDO submitted a financial proposal to secure this project.

BDO UK provides tax, audit and assurance, advisory and business outsourcing services to companies across all sectors of the economy.

“The BDO global network provides business advisory services in 167 countries, with 91,000 people working out of 1,658 offices worldwide. It has revenues of $10.3 billion. Being a member of the BDO global network allows us to meet the needs of clients who are growing and trading internationally,” the company’s bio reads.

Meanwhile, the objectives of the project are to conduct a comprehensive gap analysis and prepare a gap analysis report for the implementation of the EITI in Guyana.

Terms of Reference (TORs) state that the report must take into consideration the previous scoping studies, reports, most recent and any on-going reforms, existing systems, prosecuted and practices in data and information collection and processing in all the relevant government ministries, agencies and departments, especially those which are recipients of revenues from extractive entities or transfers from other related government agencies.

Further, the project is also aimed at reviewing all legislation pertaining to the extractive sectors with a view to identifying all gaps between existing and required legislations, necessary to ensure compliance with the EITI Standard and make specific recommendations for closing these gaps.

Thirdly, the project will also provide a detailed status update and identify additional actions required to implement the recommendation from the first, second and third GYEITI reports.

This subcomponent is expected to provide support to deepen the EITI process and coverage in Guyana following its successful candidacy to the EITI in 2017, including support for the preparation and dissemination of EITI reports.

Just last week, Guyana appointed its new EITI multi-stakeholder group which comprises representatives from the government, civil society and the extractive industry. The group will now oversee the implementation of the country’s obligations to the transparency body. It is the second such appointment since the country joined the initiative.

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