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Audit Bureau blocks Deloitte’s central banks audit

Quoting Africa Intelligence, the united nation support mission in Libya, which has been headed provisionally since march 11 by stephanie Williams, is by no means out of the woods in its efforts to audit the Tripoli based central bank of Libya and its eastern rival.

Africa Intelligence stated that the accounting giant Deloitte has not yet been able to start work  at the two institutions. It has run straight into a refusal on the part of the Tripoli based audit bureau to allow it to carry out its mission, adding that the bureau, which is headed by ahmed shakshak, argues that the audit should be carried out by Libyan company.

The Big Four accounting firms; Deloitte, PwC, Ernst&young, and KPMG- feared just this sort of problem and UNSMIL had to work hard to persuade Deloitte to take on the contract (MC3346), the news site stated.

It was also pointed out that the delay in carrying out the audit gives Tripoli CBL governor Al Seddik Omar al Kabir a stay of execution. Washington and the international community generally have been trying to speed uo his departure (Africa intelligence focus 30/10/19),

The auditing of the two central banks is a necessary precondition of their reunification.

Moreover, the group of economic experts supervised by UNSMIL is due to meet in the next few days, moreover, to discuss how the reunification of the two Libyan financial institutions should be carried out.

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