Firm involved in audit of Exxon’s expenses has licence suspended

Nov 12, 2024 News

Managing Director of Eclisar Financial and Professional Services, Azzar Haniff (Firm involved in audit)

Kaieteur News- The Institute of Chartered Accountants of Guyana (ICAG) has suspended the membership of several individuals, one of those individuals, Azzar Haniff of Eclisar Financial and Professional Services.

Eclisar is a part of a local consortium VHE Consulting that was contracted for the third audit of ExxonMobil’s Stabroek Block expense. The suspension was announced in a notice dated November 6, 2024. Haniff and George Vaughn of SFAI Guyana – Vaughn Business Solutions, both have had their ICAG memberships suspended for 2024, meaning they can no longer issue statutory audit opinions under Section 170 of the Companies Act.

Additionally, Andre Davis of AMD Financial Services has had his certificate to practice suspended pending an ongoing investigation. This also restricts him from issuing statutory audit opinions under the Companies Act.

Moreover, VHE is a registered partnership comprising Ramdihal & Haynes Inc., Eclisar Financial, and Vitality Accounting & Consultancy Inc. Last month, VHE was awarded a $312 million contract for the third audit of Exxon’s Stabroek Block expenses, covering the period 2021 to 2023.

Moreover, VHE with international support from SGS and Martindale Consultants conducted the second audit of ExxonMobil’s US$7.3 billion Stabroek Block expenses for the period 2018 to 2020. On Monday, this publication reported that VHE has been instructed to release the finalised second audit of ExxonMobil’s Stabroek Block expense. Commissioner General of the Guyana Revenue Authority (GRA), Godfrey Statia told this publication on Saturday, “The final audit will be released within the week. I have already given the go ahead to VHE for them to do so.”

(Firm involved in audit of Exxon’s expenses has licence suspended)

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Eclisar Financial, ExxonMobil’s Stabroek Block expense, Institute of Chartered Accountants of Guyana, ongoing investigation, Ramdihal & Haynes Inc., VHE Consultin

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