BDL Declines Alvarez & Marsal Request for Documents

  • Economics
BDL Declines Alvarez & Marsal Request for Documents

Alvarez & Marsal is a global professional services firm notable for its work in turnaround management and performance improvement of a number of large, high-profile businesses both in the US and abroad.

Lebanon’s Central Bank declined to provide international auditor Alvarez & Marsal with all the required documents and information under the pretext of banking secrecy and money and credit law, a senior government official revealed Tuesday.

“Alvarez officially asked BDL to provide it with nearly 100 documents so it can carry out its preliminary investigation to determine if there were actually any suspicious accounting irregularities. The auditing firm seemed very upset about BDL’s reaction and will study the possibility of ending the contract with the government to conduct the first forensic audit of the Central Bank’s accounts,” the official told The Daily Star on condition of anonymity.

Read the Full Article at the Daily Star: https://bit.ly/2HzU4xc

Source: The Daily Star