WGEI Newsletter Issue No. 6 – August 2016

The content of this newsletter

Introduction

  • About this issue

Need to know

  • SAIs Have a Critical Part in Extractives Revenue Oversight
  • Building Extractive Industry Audit Capacity in AFROSAI-E

Trainings and events

  • The 3rd annual WGEI meeting to take place in Mombasa, Kenya from 24th to 26th August 2016

Useful resources

  • Free online course (starts this September)

 

Introduction

About this issue: 

Welcome to the sixth edition of the WGEI newsletter! In this edition of the newsletter you can read articles about the effectiveness of SAIs and how AFROSAI-E is working to increase capacity in relation to audit of the Extractive Industry sector. As the annual WGEI meeting is about to start (from 24th to 26th August) in Mombasa, Kenya you will also see interesting information on this event. We have also added some tips on an upcoming online training. Have a nice read!

Need to know

SAIs Have a Critical Part in Extractives Revenue Oversight (By Dana Wilkins, Natural Resource Governance Institute)

Supreme audit institutions are the unsung heroes of natural resource governance—or they have the potential to be, at least.

SAIs are the first, and in some cases only, independent check on the accuracy of government accounts. They measure the degree to which officials comply with legislation and budgets, and the effectiveness and efficiency of government programs. When things go wrong in public resource management or officials abuse their power to line their own pockets, SAIs are there to identify and expose the problem.

Though such a check holds universal value, the potential of SAIs as watchdogs is particularly relevant for resource-rich countries. Despite their natural wealth, many of these countries top the world’s worst development, governance, and fragility indices. Their citizens seem to miss out entirely on the funds that should be used to improve things like healthcare, education, and infrastructure. Read More…

Building Extractive Industry Audit Capacity in AFROSAI-E (By Esther Thomas, AFROSAI-E)

The audit of extractive industries is a priority area for AFROSAI-E. We are therefore focused on building the capacity of auditors in the region to enable them to gain an understanding of the sector and guide them on how to conduct risk assessments of the sector in order to focus their audits where the risk is high. These training workshops and initiatives are also open for WGEI members. Read More…

Trainings and events

The 3rd annual WGEI meeting to take place in Mombasa, Kenya from 24th to 26th August 2016.

The theme of the annual meeting this year is “The role of Supreme Audit Institutions in ensuring sustainable growth from extractive industries”. The program this year consists of a technical program linked to the theme as well as a few activities that will hopefully contribute to the continued development of this important working group. The speakers come from government, UN Agencies, the SAI community as well as academia. We are sure that this diverse range of speakers and themes will make this event dynamic, spark discussion and inspire.

Of special interest may be that we this year have a session on guideline development. We know that many of our members are interested in this topic and we hope to give an overview of ongoing guideline projects and receive feedback on how these can be further developed or integrated to benefit the work done at the respective SAIs. Among the presenters for this session will be GAO (SAI U.S.), CCAF, SAI India and AFROSAI-E.

The technical program will touch upon issues such as EI and price volatility, Revenue Management in EI rich countries, Artisanal and Small scale mining and EI and Public Private Partnerships. The full program can be found on the WGEI homepage.

As for last year’s event all presentation will be uploaded to the WGEI homepage so that also members who did not have the opportunity to join in this year can get a taste of what was going on. We are also going to upload a brief summary of the day each evening. These updates can be accessed by clicking on the “WGEI Activities” banner and then “3rd WGEI meeting”.

Useful Resources

Free online course (starts this September)

For our members interested in expanding their knowledge regarding EI governance we suggest enrolling for the free online course “Natural Resources for Sustainable Development: The Fundamentals of Oil, Gas, and Mining Governance”. This is a joint initiative by Natural Resource Governance Institute (NRGI), the Columbia Center on Sustainable Investment, and the World Bank and the aim is to give an understanding of the key challenges and opportunities that come with managing extractive industry investments for sustainable development. The course starts in September 2016 and you can enroll using the following link: https://www.sdsnedu.org/learn/natural-resources-for-sustainable-development-september-2016

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