The Libyan Investment Authority has appointed EY, formerly known as Ernst & Young, as its new external auditor. EY will undertake the audit of the LIA for the financial year ending December 31, 2019.
Commenting on the appointment, Dr Ali Mahmoud Hassan Mohammed, Chairman of the LIA, said in a press releas, “We welcome EY as our new auditor and look forward to working with them. As the LIA continues to advance on our strategy to improve transparency and accountability, EY’s professional expertise and knowledge of global best practice is best suited to help meet our objectives. The LIA is committed to observing the highest standards of disclosure, and is continuing to take steps to enhance our openness. Progress is being made each day. This is another major step forward in [our] the Board of Directors’ ongoing efforts to preserve and protect Libya’s assets for the benefit of current and future generations.”