The Terms of Reference (ToRs) for EITI reporting provide standardised procedures for compiling and disclosing data under the 2023 EITI Standard. Developed by the EITI Board, these procedures aim to enhance consistency and reliability in reporting both revenues and non-financial data from the extractive sector.
The MSG is required to adopt a procedure to address data quality and assurance in line with one of the standard procedures endorsed by the EITI Board. A key innovation in the new ToRs is the introduction of a risk-based approach to data quality assurance, allowing countries to allocate resources more effectively based on their unique contexts. This approach leverages routine disclosures to reduce reporting costs, while focusing verification efforts on high-priority companies and payments. Additionally, the new ToRs offer greater flexibility in designating who can prepare EITI disclosures.
Understanding the new Terms of Reference for EITI reporting
This explainer document outlines what has changed with the new Terms of Reference for EITI reporting, which came into effect in November 2024.
