Lebanon hires international consulting firm to conduct audit
Alvarez & Marshal will conduct a type of audit focused on financial crimes and money tracing amid allegations of corruption and money laundering by top Lebanese officials.
Lebanon hired an international consulting firm on Friday to conduct an audit focused on money tracking.
Finance Minister Youssef Khalil signed the contract with the New York-based Alvarez & Marshal to perform a forensic audit of the Lebanese government.
Lebanon is in the throes of a devastating economic and energy crisis. The situation began in 2019, and since then, the Lebanese pound has lost more than 90% of its value against the dollar. The 2020 explosion in Beirut’s port worsened the situation. Lebanon was also without a permanent governmental Cabinet for more than a year until Prime Minister Najib Mikati finally formed one last week. Popular anger and anti-government protests have occurred throughout the crisis.
Forensic audits trace the movement of money, often with the aim of uncovering financial wrongdoing.
