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Alvarez & Marsal named forensic auditor of the Central Bank

Jul 22

Alvarez & Marsal named forensic auditor of the Central Bank

KPMG and Oliver Wyman will perform financial audit

The Cabinet has approved hiring Alvarez & Marsal (A&M) to perform forensic audit of the Central Bank (BDL) while KPMG and Oliver Wyman will carry out the financial audit.

“Naming a forensic auditor is the foundation stone for building reforms,” said Primer Minister Hassan Diab. “The forensic audit will achieve a significant advance towards exposing the theft that had occurred in the financial sector,” he said.

A&M is a global consultancy that provides restructuring and turnaround services and performance improvement consultancy. It operates 64 offices in 24 countries.

The government had previously approved the hiring of New York-based Kroll to carry out the forensic audit but backed off after the consultancy’s name was withdrawn by the Minister of Finance on the backdrop of its connection to Israel.

KPMG is a worldwide network of firms providing audit and advisory services.

Oliver Wyman is a US-based financial consultancy present in 60 cities across 31 countries.

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