Sign up for regular news, views and insights about corporate governance

Name
Email
Company
Job title
Industry

Close

Setting the benchmark in corporate integrity

First IATI annual report published

Initiative outlines both its achievements and intentions for bettering governmental transparency in relation to aid spending in developing nations

To outline the International Aid Transparency Initiative’s marked progress throughout the past year, the voluntary, multi-stakeholder initiative has, in April of this year, released its first annual report. The organisation, whose goal it is to improve governmental transparency in the spending of aid, details in the report for 130 organisations to be publishing data on the IATI open platform.

On their receiving of the data, IATI ensure a timely, comprehensive and comparable reflection of aid flows, for purposes in improving both accountability and impact for those inhabiting donor countries. It is hoped the process will allow citizens of developing countries to hold their governments more accountable for the spending and distribution of resources. Germany is the latestto have begun publishing data on the platform, with Russia having signaled a strong intention of joining.

UK Development Secretary, Justine Greening MP, states in the foreword to the report: “Transparency of aid flows is critical to good aid delivery. It helps reduce waste, fight corruption and makes sure money gets to the people who need it most. Better information at country level is right at the heart of what the International Aid Transparency Initiative is about – empowering people on the ground to scrutinise and make better decisions.”

The annual report details the IATI’s membership to have 37 donor signatories, these representing 75 percent of global official development finance. With those publishing data to IATI’s common standard numbering amongst governments, foundations, non-government organisations and civil societies.

The IATI is currently partnering with authorities in Columbia, Democratic Republic of Congo, Honduras, Nepal and Rwanda in its assessing of the initiative’s relative impact, and to subsequently ensure information is in alignment with the needs of governments and stakeholders.

Greening reflects that: “IATI has come a long way [and] this progress is to be commended. But we still have a long way to go. Now is the time to challenge each other on the quality of our data, and to strive to improve quality, increase access and better use this growing and invaluable resource.”

With regards to the near future, IATI have outlined their intent in launching a data store, thereby enabling a bettered means of accessibility. Also in 2013, IATI have pledged to support the development of tools such as aidview.net, this being for increased access and use of IATI’s contained data, as well as working more so on establishing a common standard across all of its practices.

 

News

New union group pledges to ‘tackle corporate responsibility’

The Trade Union Share Owners group will put union values at the heart of corporate governance through the Trade Union Voting and Engagement Guidelines

Should defined contributions be re-distributed?

Both the OECD and the House of Lords have criticised the now widely-used defined contributions plan for not accommodating adequate savings unless employees are high earners

EU’s proposed CSR rules split industry and NGOs

Businesses call CSR rule changes too strict, while NGOs say they don’t go far enough

Reducing annual report clutter

The presence of clutter in an annual report actively detracts from its usefulness to both shareholder and investor alike

Shareholders reject Julius Baer pay report

Disgruntled shareholders at Swiss private bank vote to reject remuneration report at annual meeting

Aviva’s failure to meet objectives reflected in slashed dividends

Despite job cuts and a vast disposal programme, the insurance firm’s executives have seen a pay freeze, dividends slashed and shares crashing resulting from a £3.1bn loss after tax

Australian government launches mining probe

Australia’s securities regulator is set to launch a probe of the country’s biggest mining companies in a bid to crack down on selective briefings

SASB set ambitious targets for reforming sustainability reporting

Sustainability advocate SASB is aiming to transform the way a number of core US industries report on their environmental and social practices

Deutsche ordered to improve internal controls

Imminent order by German regulator is likely to lead to Deutsche Bank reaching a settlement over Libor scandal

Energy Management Software new ‘must have’ for large businesses

There has been an emergence of energy management software since the passing of new European legislation that large businesses must undertake energy use audits

IASB chairman defends stance on prudence

Despite criticism, accountancy regulator’s chairman says the downgrading of prudence from a fundamental concept is justified

Pay ratio disclosure leaves directors unconvinced

The SEC’s recent pay ratio proposal has given rise to criticism and suggestions that it is an ineffective way of curbing excessive executive pay

Legal world “requires categorisation”

As the legal industry continues to boom, it’s becoming ever more challenging for firms to choose where to seek council. Corporate Governance Report spoke to World Finance Editor Alexander Redcliffe about the magazine’s legal awards

Eurosif report calls for better ESG engagement

Eurosif release a report that highlights benefits of better shareholder engagement over ESG policies

Court rules “unenforceable” arbitration

US courts find arbitration agreements signed by employees are ‘unconscionable’