Extractive Industry: World Bank offers financial Auditing Grant.

The Minister Delegate at the Presidency of the Republic in charge of the Supreme State Audit Office and the World Bank Country Director to Cameroon have signed a grant agreement in Yaoundé.                        

The World Bank will between 2017 and 2019 fund financial auditing in the extractive industries in some French-speaking Sub-Saharan African countries amounting to 500.000 U.S Dollars. The World Bank Country Director to Cameroon, Elisabeth Huybens and the Minister Delegate at the Presidency of the Republic in charge of the Supreme State Audit Office, Madam MBAH ACHA Rose FOMUNDAM, signed a protocol agreement for the grant in Yaoundé on March 28th 2017. The Minister of CONSUPE signed on behalf of the Regional Council of the Supreme Audit Institutions of French-speaking Sub-Saharan Africa (CREFIAF) as the head of its executive body, the Regional Institutional Strengthening Committee (CRRI).

The project sets out to improve the oversight of the revenue from the extractive industry sector. It consists of carrying out audits related to the flow of revenues in the extractive industry, elaborating and subsequent testing on targeted countries of a manual on audit of flow revenue, adapting the audit manual in e-learning training modules and providing local training sessions in selected member countries and finally disseminating training material.

It should be recalled that CREFIAF had earlier during the period of 2013-2016 received similar funding from the World Bank to support CREFIAF member states.

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