“We will put transparency at the heart of our approach to government.” UK Government Anti-Corruption Strategy 2017-2022
Transparency – the disclosure of internal corporate information to the public – is shaping legislation and regulation across the business landscape. In recent years, the UK has introduced mandatory reporting on issues as diverse as the gender pay gap; modern slavery in supply chains; supplier payment terms and beneficial ownership.
Across the world, governments and supra-national organisations, such as the G20 and the OECD, see transparency as a way of changing corporate behaviours as well as combating cross-border crime. On a day to day business level, transparency data is increasingly being used as a differentiator – for example during procurement.
Osborne Clarke helps businesses across all sectors manage the reputational, compliance and financial risks triggered by a transparency disclosure. There are opportunities too: businesses can improve efficiencies by aligning compliance processes, use the collected data to drive business improvement and use disclosures to enhance their brand value.
The much maligned Trust Registration Service (TRS) will undergo fundamental changes in 2020. The changes were outlined in the government's consultation on its implementation of the 5th Money Laundering Directive...
Cognitive supply chains could help solve some of the challenges facing traditional supply chains: lack of transparency and uniformity; inability easily to track, monitor and investigate illegal or unethical practices;...
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