Libyan Investment Authority to revalue assets with Big Four firm, launches graduate program
via Libya Herald2 min read
The Libyan Investment Authority LIA announced on April 15 that it will revalue its diversified investment portfolio to align with its strategy and reinforce good governance, transparency, and disclosure. This valuation will be conducted by one of the Big Four global auditing firms, adhering to high professional standards and international practices. The initiative extends the LIA’s efforts to enhance asset management efficiency; the last comprehensive valuation on December 31, 2019, estimated assets at approximately US$68.3 billion. This strategic step aims to improve financial data quality, enhance disclosure, and ensure fair value reflection in consolidated financial statements, providing a more accurate picture of the Authority’s investments. The updated valuation will support strategic decision-making, restructuring of subsidiaries and investments, and help stakeholders and potential investors understand the LIA’s portfolio, fostering strategic partnerships. Concurrently, the LIA plans to launch a program to attract top Libyan graduates in accounting, investment, and business administration. Applicants will undergo professional examinations with an international firm, followed by training in internationally recognized asset valuation methods. This program seeks to build national capabilities for professional self-assessments within the LIA and its subsidiaries, accepted by auditing firms. The LIA has directed subsidiaries to update action plans linked to valuation results
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