Former Auditor General Anand Goolsarran has again called on the government to release the IHS Markit audit report on the expenses claimed by ExxonMobil for the period 1999 to 2017 in the interest of transparency and its obligations to keep citizens informed.
Adverting to Stabroek News reports on the contents of the IHS Markit report, Goolsarran in his accountability column which will appear in tomorrow’s Stabroek News said it cannot be over-emphasised that it has been two years since the UK auditing firm issued the final version of its report and that the Ministry of Natural Resources, Exxon-Mobil and the Guyana Revenue Authority are still having discussions.
“However, the fact that no further revisions to the March 2021 report have so far been made, would suggest that the auditors are standing by their report”, Goolsarran said.
He said that IHS Markit has a solid reputation.
He quoted the World Economic Forum as saying that IHS Markit “is a leader in information, analytics and solutions for the industries and markets that drives economies worldwide. The company delivers information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing insights that lead to well-informed confident decisions. IHS Markit has 50,000 key business and government customers, including 80% of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, HIS Markit is committed to sustainable, profitable growth”.
The IHS audit report found among other things that the government can contest US$214.4m in claims by ExxonMobil. This translates to 12.8% of the US$1.67b in expenses claimed by ExxonMobil and partners for the period.
Goolsarran also pointed out that the IHS report was prepared by the most senior officials of the company – Andrew Day (Managing Director), Muhammed Hannanali (Associate Director), Paul Ferguson (Senior Advisor), and Tarun Ohri (Senior Advisor).
