G20 Should Take Anti-corruption Measures: ICAEW
The ICAEW has called on the G20 countries to put their weight behind the development of a global framework of strong anti-corruption legislation.
The institute will be urging the leaders to encourage the development of global standards for carbon emissions reporting as well as a single set of global accounting standards. The ICAEW will be doing that next week at Seoul, when it will present its representation entitled Foundations for Ethical and Sustainable Growth to the audience.
Michael Izza, who is the ICAEW chief executive, said in a statement that the G20 leaders are in a unique position to shape a global economy that serves the institute’s long-term interests. He said that the leaders must “focus on developing a shared framework for growth that will help governments and businesses take important steps to deliver a sustainable and ethical economy”.
The institute is urging the G20 leaders to encourage businesses to adopt the UN Convention Against Corruption as the global framework for anti-corruption measures.
The institute also wants a peer-review taskforce to be developed among the G20 countries as that would ensure that commitments are turned into actions.
Its representation also says that developing a universal climate change reporting framework is essential if sustainable growth is to be encouraged. ICAEW wants to see a single unified standard for reporting on companies’ carbon emissions to replace what it describes as the ‘current plethora’ of reporting frameworks for businesses’ impact on the environment.
The IAEW further says that for achieving an ethical and sustainable economy, governments of the G20 counties must take the lead by improving the transparency and robustness of public finances reporting. Izza further added: “We want governments to set an example through sustainability reporting in the public sector and clear anti- corruption strategies.”