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Zambia
Summary
- The report includes a helpful overview of the Zambian mining sector and a clear summary of major findings.
- It describes in detail how discrepancies were reconciled and breaks down unresolved discrepancies by company and revenue stream. It also notes the importance of looking at the absolute value of discrepancies rather than net discrepancies.
- It identifies the government agency that received each revenue stream.
- The report should detail company payments and government receipts both before and after the reconciliation process. Right now it only includes the payments and receipts initially reported by companies and the government, and the total amount of remaining discrepancies after reconciliation. This makes it impossible to know if companies, the government, or both, adjusted the amounts initially reported.
- The report contains no definition of materiality. While there is no clear statement about auditing standards in the report, the templates given to government agencies and companies do require managers to attest to the fact that their accounts had been audited to international standards.
- The description of challenges faced by the reconcilers and recommendations for addressing them is a useful resource for other EITI candidate countries and reconciling agencies.
- The report details the role of the ZCCM-IH, the successor to Zambia's national mining company, which is a majority government-owned investment company. The report's authors explain their reasons for considering the ZCCM-IH as a "company" rather than a "government agency."
Data Year
2008
Publication Year
2011
EITI Status
Candidate
Candidate
Report Compiled by PricewaterhouseCoopers Ltd.
EITI report Download PDF
Source zambiaeiti.org.zm
Government Receipts
$459,714,041.06
Company Payments
$462,994,300.07
GDP, 2008
BILLION US$
source
14.71
Total Government Revenue (% of GDP)
22.31
Reported EI Revenue (% of Total Revenue)
14.01
Report Quality Indicators | ||
1. Regularity | ||
| a) score | .50 | |
| b) total reports / implementing years | 1/2 | |
2. Timeliness | ||
| Lag between fiscal year of data and publication year. | 3 | |
3. Materiality | ||
| Report clearly defines a materiality threshold. | No | |
4. Data Reliability | ||
| Report contains audited data from: | ||
| a) companies | Yes | |
| b) government | Yes | |
5. Coverage | ||
| Revenue data includes the following revenue streams: | ||
| a) royalties | Yes | |
| b) taxes | Yes | |
| c) surface, rental or license fees | Yes | |
| d) bonuses | No | |
| e) state-owned enterprise (SOE) payments | Yes | Includes information about payments from companies to ZCCM-IH, and payments from ZCCM-IH to the government. ZCCM-IH is 87% government-owned. |
| f) Report covers all extractive sector companies. | No | 14/16 companies reported. |
| g) Report states the price of any product received or sold by government. | Yes | Copper prices only. |
| h) Report states the quantity of resources produced. | Yes | Rough estimate for copper only. |
6. Discrepancies | ||
| Report contains: | ||
| a) information on the cause of revenue discrepancies. | Yes | |
| b) reconciled data following the correction of discrepancies. | Yes | While it appears reconciliation has taken place, the report does not provide reconciled totals of government receipts and company payments. |
7. SOE Revenue Flow | ||
| SOE Revenue Flow data is clearly explained in the report. | Yes | |
8. Disaggregation | ||
| Report provides financial data on individual: | ||
| a) companies | Yes | |
| b) revenue streams | Yes | |
| c) projects | No | |
| d) commodities | No | Company data allows some disaggregation by commodity. |
9. Comprehensibility | ||
| Report contains: | ||
| a) a summary with key findings and revenue totals | Yes | |
| b) clear indication of what currencies and units of measurement are used | Yes | |
| c) written explanation of key findings and recommendations | Yes | |
| d) a clear definition of terms | Yes | |
10. Accessibility | ||
| Report is available: | ||
| a) in at least one official language | Yes | |
| b) on a government website | Yes | |
Related Indicators | ||
| Revenue Watch Index, 2010 | 41.2 | |
| Corruption Perception Index, 2010 | 101/178 | |
| Open Budget Survey, 2010 | 36 | |
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