This factsheet provides a two-page introduction to the Extractive Industries Transparency Initiative (EITI).
EITI Comments on Proposed Rule: Disclosure of Payments by Resource Extraction Issuers
On 16 March 2020, the EITI wrote to the U.S. Securities and Exchange Commission (SEC) to comment on its proposed rule implementing Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Please find the letter below.
See the related press release: EITI calls on SEC to align rules with international transparency efforts
Board Paper 46-4-B for the Board's decision on establishing a pilot to accelerate systematic disclosures in EITI countries. The Board decided to adopt the Implementation Committees recommendations (decision 2020-07/BM-46
The Implementation Committee recommends that the Board reviews progress with encouraging systematic disclosure. The Implementation Committee has assessed the progress made in implementing the recommendations agreed in February 2018. The Committee’s main finding is that implementing countries have made limited progress with systematic disclosures.
The EITI's accounts are audited by HCA Revisjons & Rådgivning AS who were engaged as EITI’s auditor in 2014 by the Board. The auditor in the period 2007 until 2014 was MGI Revisjon Asker DA, named Grant Thornton Asker before 2008.
Timeline of Validation and related materials
21-23 January 2020: Stakeholder consultations through pre-Validation mission27 February 2020: Validation commenced
DATE - Draft Secretariat assessment [English]DATE - Comments from the MSG [English]DATE - Final Secretariat assessment [English]
Validation Committee and Board review
Find the template Terms of Reference for Independent Administrator services in accordance with the 2019 EITI Standard, endorsed by the EITI Board, below.
It sets out the work to be undertaken by the Independent Administrator. It is typically attached to the contract between the Independent Administrator and the government.
Subsequent to the Board agreement, the Independent Administrator should be encouraged to make recommendations for wider extractive reforms where appropriate and relevant.
Validation assesses how EITI implementing countries are progressing towards meeting EITI requirements. In October 2019, the EITI Board decided to launch a review of the Validation process. As an initial step, the views of EITI stakeholders were sought through this consultation from December 2019 to January 2020. All responses are published at the end of this page.
The consultation was open to all stakeholders until 31 January 2020. We actively sought a range of responses, across regions and stakeholder groups.
What areas were covered by the consultation?