FAILURE TO THOROUGHLY AUDIT OIL BLOCK REVENUES CAN LEAD TO SERIOUS FINANCIAL LOSSES, WARNS ELSON LOW

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The Peoples’ National Congress Reform Youth Policy & Economic Advisor, Elson Low, has warned that the lack of thorough cost recovery auditing of Guyana’s Stabroek Oil block revenues could result in severe financial losses for the government if it does not improve its auditing capabilities.

Low emphasized the importance of effective auditing to ensure that the government is adequately compensated for its natural resources and to prevent financial mismanagement. Therefore, the government must prioritize strengthening its auditing capabilities to protect the country’s economic interests. Shemar Alleyne has the details.

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