| Liberia: Integrity Scorecard Report > Sub-Category: State-Owned Enterprises | ||
| Indicators | Score | |
| 64 | In law, is there an agency or equivalent mechanism overseeing state-owned companies? | 100 |
| 65 | Is the agency or equivalent mechanism overseeing state-owned companies effective? | 25 |
| 66 | Can citizens access the financial records of state-owned companies? | 20 |
Indicator and sub-Indicator Details
| 64 | In law, is there an agency or equivalent mechanism overseeing state-owned companies? | |||||||
| 64: In law, is there an agency or equivalent mechanism overseeing state-owned companies? | ||||||||
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Comments: The Bureau of State Enterprises oversees all state enterprises. References: Bureau of State Enterprises Act
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| 65 | Is the agency or equivalent mechanism overseeing state-owned companies effective? | |||||||
| 65a: In law, the agency or equivalent mechanism overseeing state-owned companies is protected from political interference. | ||||||||
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Comments: The BSE is not free from political interference. References: Does not exist in law.
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| 65b: In practice, the agency or equivalent mechanism overseeing state-owned companies has a professional, full-time staff. | ||||||||
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Comments: References: Anthony Myers, budget analyst, Budget Bureau, Oct. 2, 2007, Monrovia, Liberia Dan Sayeh, executive director, LDI, Oct. 2, 2007, Monrovia, Liberia
Peer Review Comments: Th
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| 65c: In practice, the agency or equivalent mechanism overseeing state-owned companies receives regular funding. | ||||||||
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Comments: Agency funding is constrained by huge demands on budget. References: Anthony Myers, budget analyst, Budget Bureau, Oct. 2, 2007, Monrovia, Liberia Dan Sayeh, executive director, LDI, Oct. 2, 2007, Monrovia, Liberia
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| 65d: In practice, when necessary, the agency or equivalent mechanism overseeing state-owned companies independently initiates investigations. | ||||||||
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Comments: The BSE does not have investigative powers. Rather, it monitors the performance of state-owned enterprises and trains their staff. References: Anthony Myers, budget analyst, Budget Bureau, Oct. 2, 2007, Monrovia, Liberia Dan Sayeh, executive director, LDI, Oct. 2, 2007, Monrovia, Liberia
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| 65e: In practice, when necessary, the agency or equivalent mechanism overseeing state-owned companies imposes penalties on offenders. | ||||||||
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Comments: This body does not have investigative powers; in the last year there was no known investigation. References: Anthony Myers, budget analyst, Budget Bureau, Oct. 2, 2007, Monrovia, Liberia Dan Sayeh, executive director, LDI, Oct. 2, 2007, Monrovia, Liberia
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| 66 | Can citizens access the financial records of state-owned companies? | |||||||
| 66a: In law, citizens can access the financial records of state-owned companies. | ||||||||
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Comments: Citizens may find it difficult to access financial records about state companies. These records are available only to government officials or auditors. References: Does not exist in law.
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| 66b: In practice, the financial records of state-owned companies are regularly updated. | ||||||||
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Comments: Since the inception of the GEMAP, financial records of state-owned companie's are being brought up-to-date. However, they may not be 100 percent accurate. References: Anthony Myers, budget analyst, Budget Bureau, Oct. 2, 2007, Monrovia, Liberia Dan Sayeh, executive director, LDI, Oct. 2, 2007, Monrovia, Liberia
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| 66c: In practice, the financial records of state-owned companies are audited according to international accounting standards. | ||||||||
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Comments: Audits of state-owned enterprises are yet to be done, but the General Auditing Commission plans to carry them out. References: Anthony Myers, budget analyst, Budget Bureau, Oct. 2, 2007, Monrovia, Liberia Dan Sayeh, executive director, LDI, Oct. 2, 2007, Monrovia, Liberia
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| 66d: In practice, citizens can access the financial records of state-owned companies within a reasonable time period. | ||||||||
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Comments: Obtaining financial records could be impossible. The case of LPRC Oil deal speaks to the unwillingness of some state companies to release information about their operations. References: Anthony Myers, budget analyst, Budget Bureau, Oct. 2, 2007, Monrovia, Liberia Dan Sayeh, executive director, LDI, Oct. 2, 2007, Monrovia, Liberia
Peer Review Comments: There is not law that compels SOEs to release information about their functions and operations.
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| 66e: In practice, citizens can access the financial records of state-owned companies at a reasonable cost. | ||||||||
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Comments: Obtaining any records come with unofficial costs, but in this case there is no mechanism through which citizens can access records. References: Anthony Myers, budget analyst, Budget Bureau, Oct. 2, 2007, Monrovia, Liberia Dan Sayeh, executive director, LDI, Oct. 2, 2007, Monrovia, Liberia
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