• Register
Return to: Home > News > Standards > News brief: EITI developments in Liberia, Mali and Suriname

News brief: EITI developments in Liberia, Mali and Suriname

At its board meeting held earlier this week, the Extractive Industries Transparency Initiative (EITI) found that Liberia and Mali had made meaningful progress in implementing the EITI Standard. The EITI has also approved Suriname’s candidature application.

The EITI Board had particularly positive words for Liberia, whom it recognised as a pioneer in implementing and setting out the next steps for EITI standard. As Liberia underwent its first EITI validation, the board recognised the meaningful progress achieved and identified 16 corrective actions to help Liberia ahead of the next validation in 18 months.

EITI chair Frederick Reinfeldt said: “Political will led Liberia to pioneer a number of the requirements in the current EITI Standard, and political will is what will be needed to ensure that Liberia remains at the forefront of implementation. The Board’s corrective actions should help Liberian stakeholders direct their efforts in order to continue implementing the Standard in a way that leads to better governance of the extractive sector”.

More on EITI Liberia announcement here.

The EITI Board also concluded that Mali had made meaningful progress in implementing the EITI Standard. The full EITI’s independent review of Mali's implementation can be found here.

At the board meeting, EITI welcomed Suriname as the 52th members of initiative. Suriname has now 18 months to publish its first EITI report and will have to publish an annual activity report for 2017 by 1 July 2018.

“We hope that the EITI will help Suriname to ensure that its natural resources are used for the development of the country,” Reinfeldt said.

More on EITI Suriname announcement here.

Top Content

    IRBA: taking transparency to the next level

    Bernard Agulhas, chief executive officer at the Independent Regulatory Board for Auditors (IRBA), talks to Joe Pickard about the introduction of mandatory audit firm rotation, and the future of the Big Four in South Africa

    read more

    Sustainable investment: Accountants hold the key

    The US Institute of Management Accountants has a plan to remind professionals that they have the skills to take leadership roles in ESG investing. Carlos Martin Tornero writes

    read more

    IASB: progress towards global standards

    In an extract from a speech given at the Accounting Standards Board of Japan conference in Tokyo, Hans Hoogervorst looks at a possible return of the amortisation of goodwill to IFRS, and the standards’ progress in Japan

    read more

    IMA: developing diversity

    At the end of the July, the Institute of Management Accountants (IMA) appointed Linda Devonish-Mills as its first director of diversity and inclusion. Joe Pickard discusses with her what she plans to do in her new role

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.