In this update:
- Shining a Light on the World’s Biggest Companies
- Can Australia deal with accusations of corruption?
- G20 extends Anti-Corruption Working Group
- Close links between business and government pose risks in Europe
On 10 July, Transparency International (TI) released its latest study Transparency in Corporate Reporting: Assessing the World’s Largest Companies. The report ranks 105 of the biggest publicly-traded companies, which are worth more than US$11 trillion, based on their public commitment to transparency. These companies touch the lives of many people across the globe.
An article by George Williams, Prof. of Law, UNSW, argues that Australia does not have the right laws and institutions in place to deal with accusations of corruption, including misuse of travel entitlements and electoral fraud. He argues for a strong national anti-corruption body in this Sydney Morning Herald article.
G20 extends Anti-Corruption Working Group
Transparency International has welcomed the extension of the mandate of the G20 Anti-Corruption Working Group. The extension acknowledges the importance of anti-corruption work as G20 leaders seek to address the current Eurozone crisis and stabilise the global economy. Further comment is available on the Transparency International blog.
Transparency International has warned in a new report that the close relationship between business and government has enabled corruption and undermined economic stability in Europe. The report highlights the gaps in governance that contributed to the financial and political scandals that dogged nearly every European country in the last year.