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Practice Guide to Auditing Mining Revenues and Financial Assurances for Site Remediation

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References and Links

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Guidance and Good Practices

African Organisation of Supreme Audit Institutions (AFROSAI-E) (2015). Audit Considerations for Extractive Industries, available at: http://afrosaieportal.dashbo.co.za/system/dms2/folders.php?folder_id=218

Canadian Audit and Accountability Foundation (2014).Better Integrating Root Cause Analysis into Legislative Performance Auditing: A Discussion Paper, available at:https://caaf-fcar.ca/images/pdfs/research-publications/RootCauseAnalysisEN.pdf

Chartered Professional Accountants of Canada (2016).CPA Canada Handbook—Assurance, performance audit standards:

  • CSQC-1 – Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and other Assurance Engagements
  • CSAE 3001 – Direct Engagements
  • PS 5400 – Value-for-Money Auditing in the Public Sector

Extractive Industries Transparency Initiative (2015).The EITI Standard, available at:https://eiti.org/document/standard

Institute of Internal Auditors (IIA).International Professional Practices Framework(IPPF):

  • Standard 2010 – Planning
  • Standard 2100 – Nature of Work
  • Standard 2200 – Engagement Planning
  • Standard 2300 – Performing the Engagement
  • Standard 2400 – Communicating Results

International Organization of Supreme Audit Institutions (INTOSAI). International Standards of Supreme Audit Institutions:

INTOSAI Working Group on Environmental Auditing (2013).Addressing Fraud and Corruption Issues when Auditing Environmental and Natural Resource Management: Guidance for Supreme Audit Institutions, available at:http://www.environmental-auditing.org/media/2945/2013_wgea_fraudcorruption_view.pdf

INTOSAI Working Group on the Audit of Extractive Industries (2016). The EI [Extractive Industry] Value Chain: Possible Audit Topics, available at:http://www.wgei.org/the-ei-value-chain-possible-audit-topics/

Office of the Auditor General of Canada (2014).Wrongdoing and Fraud: A Guide for Performance Audits and Special Examinations. Internal document, 50 p.

United Nations (2003).UN Guide for Anti-Corruption Policies, available at:https://www.unodc.org/pdf/crime/corruption/UN_Guide.pdf

Performance Audits Cited in the Practice Guide

Auditor-General of South Africa (2009). Report of the Auditor-General to Parliament on a Performance Audit of the Rehabilitation of Abandoned Mines at the Department of Minerals and Energy, available at: http://cer.org.za/wp-content/uploads/2011/10/AG_Report_on_abandoned_mines-Oct-2009.pdf

Comptroller and Auditor General of India (2012). Allocation of Coal Blocks and Augmentation of Coal Production, Ministry of Coal, available at: http://www.cag.gov.in/content/report-no-7-2012-13-%E2%80%93-performance-audit-allocation-coal-blocks-and-augmentation-coal

Government Accountability Office of the United States of America (2010). Surface Coal Mining – Financial Assurances for, and Long-term Oversight of, Mines with Valley Fills in Four Appalachian States, available at: http://www.gao.gov/products/GAO-10-206

Government Accountability Office of the United States of America (2011). Abandoned Mines – Information on the Number of Hardrock Mines, Cost of Cleanup, and Value of Financial Assurances, available at: http://www.gao.gov/products/GAO-11-834T

Government Accountability Office of the United States of America (2012). Phosphate Mining – Oversight Has Strengthened, but Financial Assurances and Coordination Still Need Improvement, available at: http://www.gao.gov/products/GAO-12-505

Government Accountability Office of the United States of America (2012). Uranium Mining – Opportunities Exist to Improve Oversight of Financial Assurances, available at: http://www.gao.gov/products/GAO-12-544

Office of the Auditor General of Alberta (2015). Environment and Parks and the Alberta Energy Regulator – Systems to Ensure Sufficient Financial Security for Land Disturbance from Mining, in Report of the Auditor General of Alberta – July 2015, available at: https://www.oag.ab.ca/webfiles/reports/OAG%20Report%20July%202015.pdf

Office of the Auditor General of British Columbia (2016). An Audit of Compliance and Enforcement of the Mining Sector, available at: http://www.bcauditor.com/pubs/2016/audit-compliance-and-enforcement-mining-sector

Office of the Auditor General of Canada (2002). Abandoned Mines in the North, Report of the Commissioner of the Environment and Sustainable Development, available at: http://www.oag-bvg.gc.ca/internet/English/parl_cesd_200210_03_e_12409.html

Office of the Auditor General of Canada (2012). Financial Assurances for Environmental Risks. Report of the Commissioner of the Environment and Sustainable Development, Fall 2012, available at: http://www.oag-bvg.gc.ca/internet/English/parl_cesd_201212_02_e_37711.html

Office of the Auditor General of Ontario (2015). Mines and Minerals Program, available at: www.auditor.on.ca/en/content/annualreports/arreports/en15/3.11en15.pdf

Office of the Auditor General of Nova Scotia (2014). Natural Resources: Mineral Resource Management, available at: http://oag-ns.ca/sites/default/files/publications/2014 - may - Ch07 - Natural Resources - Mineral Resource Management.pdf

Office of the Auditor General of New South Wales (2010). Coal Mining Royalties, available at: http://www.audit.nsw.gov.au/ArticleDocuments/142/

Office of the Auditor General of Western Australia (2011). Ensuring Compliance with Conditions on Mining, available at: https://audit.wa.gov.au/wp-content/uploads/2013/05/report2011_08.pdf

Office of the Auditor General of Western Australia (2014). Ensuring Compliance with Conditions on Mining – Follow-up, available at: http://www.parliament.wa.gov.au/publications/tabledpapers.nsf/displaypaper/

Queensland Audit Office (2014). Environmental Regulation of the Resources and Waste Industries, available at: https://www.qao.qld.gov.au/reports-parliament/environmental-regulation-resources-and-waste-industries

Vérificateur général du Québec (Office of the Auditor General of Quebec) (2009). Les interventions gouvernementales dans le secteur minier (in French only), available at : http://www.vgq.gouv.qc.ca/fr/fr_publications/fr_rapport-annuel/fr_2008-2009-T2/fr_Rapport2008-2009-TII-Chap02.pdf

Vérificateur général du Québec (Office of the Auditor General of Quebec) (2013). Suivi - Interventions gouvernementales dans le secteur minier (in French only), available at : http://www.vgq.gouv.qc.ca/fr/fr_publications/fr_rapport-annuel/fr_2012-2013-CDD/fr_Rapport2012-2013-CDD-Chap07.pdf

Other References on Revenues and Financial Assurances

Chr. Michelsen Institute (2008). Corruption in Natural Resource Management – An Introduction, available at: http://www.cmi.no/publications/file/

ECON Oil & Gas International (2015). A Comparison of Various Governance and Tax Models. Presentation by J. Klev to the 2nd Meeting of the INTOSAI Working Group on the Audit of Extractive Industries, Oslo, Norway, 23 September 2015, available at: http://www.wgei.org/wp-content/uploads/2015/09/

International Council on Mining and Metals (2016). The Role of Mining in National Economies (3rd Edition), available at: http://www.icmm.com/romine/index

International Monetary Fund (2014). Administering Fiscal Regimes for Extractive Industries: A Handbook, available at: http://eduart0.tripod.com/sitebuildercontent/sitebuilderfiles/

International Monetary Fund (2014). Revenue Administration: Administering Revenues from Natural Resources—A Short Primer, available at: http://www.imf.org/external/pubs/ft/tnm/2014/tnm1402.pdf

International Organization of Supreme Audit Institutions (2013). Extractive Industries Audit: The Role of Supreme Audit Institutions, available at: https://www.researchgate.net/publication/265913390_Extractive_Industries_

Macdonald-Laurier Institute (2015). Sharing the Wealth: How Resource Revenue Agreements Can Honour Treaties, Improve Communities, and Facilitate Canadian Development, available at: http://www.macdonaldlaurier.ca/files/pdf/

Mintz, J. and D. Chen (2012). Capturing Economic Rents from Resources Through Royalties and Taxes. The School of Public Policy, University of Calgary, SPP Research Papers, Vol. 5, Issue 30, available at: https://www.policyschool.ca/wp-content/uploads/2016/03/economic-rents-mintz-chen.pdf

National Orphaned/Abandoned Mines Initiatives (2010). The Policy Framework in Canada for Mine Closure and Management of Long-Term Liabilities: A Guidance Document, available at: http://www.abandoned-mines.org/pdfs/

Natural Resource Governance Institute (2014). Natural Resource Charter, second edition, available at: http://www.resourcegovernance.org/sites/default/files/documents/

Natural Resource Governance Institute (2015). The Natural Resource Charter Decision Chain – Converting Resources into Development, available at: http://www.resourcegovernance.org/sites/default/files/documents/

Natural Resource Governance Institute (2016). Transfer Pricing in the Mining Sector – Preventing Loss of Income Tax Revenue, available at: http://www.resourcegovernance.org/sites/default/files/documents/nrgi_primer_

Natural Resource Governance Institute (2017). Past the Tipping Point? Contract Disclosure within EITI, available at: https://resourcegovernance.org/

Natural Resource Governance Institute (n.d.). Oil, Gas, and Mining Fiscal Terms, available at: http://www.resourcegovernance.org/training/resource_center/

Organization for Economic Cooperation and Development (2010). OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations, available at: http://www.oecd.org/tax/transfer-pricing/oecd-transfer-pricing-guidelines-for-multinational-enterprises-and-tax-administrations-20769717.htm

Prospectors and Developers Association of Canada (2014). Government Resource Revenue Sharing with Aboriginal Communities in Canada: A Jurisdictional Review, available at: http://www.pdac.ca/docs/default-source/default-document-library/pdac-grrs-report-2014.pdf?sfvrsn=0

Publish What You Pay Canada. Many Ways to Lose a Billion: How Governments Fail to Secure a Fair Share of Natural Resource Wealth, 2017 [http://www.publishwhatyoupay.org/pwyp-resources/many-ways-to-lose-a-billion/].

World Bank (2006). Mining Royalties: A Global Study of Their Impact on Investors, Government, and Civil Society, available at: http://siteresources.worldbank.org/INTOGMC/Resources/336099-1156955107170/miningroyaltiespublication.pdf