WHAT ARE THE FACTORS THAT SHOULD BE
CONSIDERED IN THE RECONCILIATION PROCESS?
1. An assessment of the comprehensiveness and reliability of the data
2. The coverage of the reconciliation exercise
3. An assessment of whether all reporting entities provided the requested information
4. An identification of those who failed to report, and whether such failure has a material
impact on the comprehensiveness of the report.
5. An assessment of the audited financial statements of the reporting entities for the years
covered by the report
6. Recommendations on how to improve the reporting process
what is the process for validation?
Upon a country’s submission of EITI report, the international board shall procure a validator
who will examine the report and the process of EITI implementation employed by the country. Validation is the process by which the country is given an impartial assessment of whether
EITI implementation in the country complies with EITI standards.
In the validation process, the validator is required to assess a country’s compliance with the
EITI requirements such as: 1. Effective oversight by the MSG; 2. Timely publication of EITI
reports; 3. Contextual information about the extractive industries; 4. Comprehensive EITI
reports; 5. Credible assurance process applying international standards; 6. Comprehensible
EITI reports; and 7. Actions taken by the MSG on lessons learned and how it reviewed the
outcomes and impact of EITI implementation.
Validation can have any of the following results: 1. The country meets the standards and is
declared a compliant country; 2. It fails to meet the standards but gains significant progress,
in which case, it will undergo a second validation; or 3. It fails to meet the standards and no
significant progress was seen, in which case, the country will be delisted.
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