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Bank of Lebanon appoints Alvarez & Marsal for audit
Bank of Lebanon announced that it has initiated a forensic audit mission related to foreign assets from October 1, 2019, to December 31, 2023, in collaboration with Alvarez & Marsal, the company that won the bid. The operations to be audited include support for goods, banking transfers, public sector transfers, and documentary credits for fuel imports. The audit aims to review procedures and track the flow of funds to ensure transparency, with the bank affirming its ongoing cooperation with the audit team until the results are finalized. This is intended to protect its financial rights and enhance transparency and accountability.
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