On Thursday, 14 November 2024, the Libyan Investment Authority (LIA) held its second annual group forum for the year 2024, attended by several ambassadors from the Security Council member states and international advisors to the LIA group, as the forum addressed the group’s strategic approach and financial performance, highlighting the LIA group’s continuous efforts to enhance governance and transparency as a key part of its future vision.

During the forum, the LIA received the 2020 consolidated financial statements from Deloitte, one of the world’s leading international auditing and accounting firms, in a step that enhances the LIA’s commitment to transparency and strengthens its position in the sovereign investment sector.

In a statement on this occasion, Dr. Ali Mahmoud Hassan, Chairman and CEO, expressed his gratitude and appreciation to the consolidated financial statements preparation team, praising this remarkable achievement as it reflects the efforts made to enhance the LIA’s performance and attain transparency and governance standards at an international level, emphasising at the same time the importance of continuing in this approach to enhance the LIA’s position locally and internationally.

During the forum, PwC also presented their plan to prepare the LIA’s financial statements for 2021, 2022, and 2023, in accordance with the latest International Financial Reporting Standards (IFRS) , meanwhile the external auditor EY presented a detailed presentation on its executive position regarding the audit of the 2020 financial statements in a step aimed at enhancing the disclosure and credibility of the LIA’s financial statements.