Extractive Industries: World Bank Offers Financial Auditing Grant

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

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 in charge of the Supreme Audit Office, Mbah Acha Rose Fomundam signed the protocol agreement for the grant in Yaounde on March 28, 2017 the Minister Delegate signed the agreement on behalf of the Regional Council of the Supreme Audit Institutions of French-speaking Sub-Saharan Africa (CREFIAT) as the head of its executive body, the Regional Institutional Strengthening Committee (CRRI).
Speaking during the occasion, she said, the financial auditing project concerns eight institutions. The press kit for the event indicated that the project targets four countries that include the Democratic Republic of Congo, Republic of Guinea, Niger and Gabon. The project  sets out to improve the oversight of  the revenue  from the extractive industry. It consists of carrying out two audits related to the flow of revenues in the extractive ...