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Date: 2019-05-22 Page is: DBtxt001.php L0700-MA-TRANSPARENCY-and-ACCOUNTABILITY


MANAGEMENT ACCOUNTABILITY
TRANSPARENCY & ACCOUNTABILITY


The importance of transparency has been apparent for years ... as many as 40 years .., maybe a lot longer.

The general public are completely unaware of how little they ever get to know. The main flows of information are driven by a very efficient corporate PR system and advertising which has the singular goal of giving incentive to people to consume the products and services they are promoting. Almost everything the general public gets to know about the world we live in is served up to us via some corporate communication. Everything about the corporate world is 'self reported' by the corporate world ... and it is the corporate world that runs almost everything in the economy of the world. This is an unsatisfactory state of affaris and needs to be changed.

The importance of accountability might well be greater than transparency.

Sadly ... accountabilty is almost completely absent from the modern world. In countries like the USA, there is a lot of talk about 'rule of law' but rule of law does not translate very well into accountability.

There was also the wonderful idea that the media would serve to hold powerful people accountable, but that idea has never worked very well, and does not work at all in a world where news has a half life of a few hours and the news cycle is continuous. Important stories do not last but are replaced by new stories in a matter of hours.

The need for transparency and the need for accountability are talking points, and have been for a very long time. It is time to rethink how to make transparency and accountability effective.

How TVM might help make transparency and accountability more effective The first step is to have an easy way of describing the state and the performance of all the actors and the objects that make up the modern socio-enviro-economic system.
Transparency International (TI)
TPB Note
Transparency International (TI) was founded in the late 1980s and has been successful in enabling a conversation about corruption ... but the level of corruption has remained incredibly high. Why is this? In my view the main reason is that TI has never understood the vital importance of accounting as a precurser to transparency and accountability. Corporate behavior changed significantly when the auditing profession was institutionalized in the late 19th century, but in the modern economic world a huge proportion of the economy operates in the shadows. There are many beneficiaries of this quagmire of corruption including 'reputable' banks, corporate organizations and investors who choose to look the other way and not see what really is in plain sight.

TI Report: Transparency-In-Corporate-Reporting 2016

This report evaluates the disclosure practices of 100 major emerging market multinationals headquartered in 15 countries and active in 185 countries. The report is part of a series on corporate reporting published by Transparency International since 2008. Initially focused on the world’s top multinationals, the series was expanded to include a first report on emerging market multinationals in 2013. To enhance comparability, the company sample for this report is primarily based on the 2013 edition of the Transparency in Corporate Reporting: Assessing Emerging Market Multinationals report.

This report assesses the public disclosure practices of emerging market multinationals based on three dimensions: first, the reporting of key elements of their anti-corruption programmes; second, the disclosure of their company structures and holdings; and, third, the disclosure of key financial information on a country-by-country basis. This information was gathered from corporate websites and other publicly available sources by a team of Transparency International researchers.
The Transparency International Report 2016
'http://truevaluemetrics.org/DBpdfs/Transparency/TI-2016-Transparency-In-Corporate-Reporting.pdf'
Open PDF ... TI-2016-Transparency-In-Corporate-Reporting



The text being discussed is available at


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the importance of accountability and getting the management metrics right.
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