{"id":14881,"date":"2015-08-03T16:13:03","date_gmt":"2015-08-03T16:13:03","guid":{"rendered":"https:\/\/transparency.lt\/en\/?p=14881"},"modified":"2015-11-13T10:59:19","modified_gmt":"2015-11-13T10:59:19","slug":"corporate-accountability-2","status":"publish","type":"post","link":"https:\/\/transparency.lt\/en\/corporate-accountability-2\/","title":{"rendered":"CORPORATE ACCOUNTABILITY"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column width=&#8221;1\/1&#8243;][vc_column_text]<\/p>\n<p style=\"text-align: justify;\"><strong><a href=\"https:\/\/transparency.lt\/wp-content\/uploads\/2015\/11\/1112_2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14882 alignright\" src=\"https:\/\/transparency.lt\/wp-content\/uploads\/2015\/11\/1112_2.jpg\" alt=\"1112_2\" width=\"300\" height=\"300\" srcset=\"https:\/\/transparency.lt\/wp-content\/uploads\/2015\/11\/1112_2.jpg 300w, https:\/\/transparency.lt\/wp-content\/uploads\/2015\/11\/1112_2-150x150.jpg 150w, https:\/\/transparency.lt\/wp-content\/uploads\/2015\/11\/1112_2-100x100.jpg 100w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>Swedish bank \u2018Swedbank\u2019(91 point) and Lithuanian state-owned enterprise \u2018Lietuvos energija\u2019 (81 point) accounts best for their activities in Lithuania. One quarter of all the evaluated enterprises were given 0 points.<\/strong><\/p>\n<p style=\"text-align: justify;\">The study assessed 41 largest companies functioning in agricultural, oil and chemical industries, banking, commerce and other sectors in Lithuania.<\/p>\n<p style=\"text-align: justify;\">Assessing publicly available information, the best performing companies were in the food (average \u2013 15.75 points out of 100) and chemical (15.6) industries.<\/p>\n<p style=\"text-align: justify;\">Largest amount of information on anti-corruption measures is disclosed by Ltd \u2018Swedbank\u2019 (100 points), on organizational structure \u2013 by Polish capital market company \u2018Orlen Lithuania\u2019 (90 points), on taxes, investments and other finances \u2013 by Ltd \u2018Lietuvos energija\u2019 (100 points).<\/p>\n<p style=\"text-align: justify;\">Least information companies disclose on certain anti-corruption measures implemented in their undertakings. For example, only 7 enterprises out of 41 publish their codes of ethics or anti-corruption programs, also only 7 companies publish their policy on receiving gifts, confidential or anonymous channels to report. Only Limited company group \u2018TEO LT\u2019, Ltd. \u2018SEB bank\u2019 and Ltd. \u2018Swedbank\u2019 announce that there would not be any negative consequences for whistleblowers.<\/p>\n<p style=\"text-align: justify;\">\u2018All around the world innovative enterprises pay more and more attention to accountability and how to manage various corruption risks. Being more open and accountable helps the company to reduce those risks and also helps to develop stronger ties with communities. If an employee still gets involved into corruption, higher accountability level can help to diminish legal consequences for the company. I hope that our study and proposed standard will help enterprises to get closer to the best global practices.\u2019 \u2013 says Sergejus Muravjovas, the Executive Director of \u2018Transparency International\u2019 Lithuanian Chapter.<\/p>\n<p style=\"text-align: justify;\">The average score in the research &#8211; 22.3 points out of 100.<\/p>\n<p style=\"text-align: justify;\">The study valuates the transparency of corporate reporting by the 41 largest companies operating in Lithuanian according to their sales revenue in 2013, as published in the annual report of \u2018Verslo \u017dinios\u2019.<\/p>\n<p style=\"text-align: justify;\">The study assesses the disclosure practices of companies with respect to their anti-corruption programmes, company holdings and key financial information. After analyzing the websites, the results were sent to all enterprises with an opportunity to start publishing the missing information and to improve their ranking<\/p>\n<p style=\"text-align: justify;\">The assessment started in November 2014.<\/p>\n<p style=\"text-align: justify;\">The methodology is based on private sector transparency study \u2018Transparency in Corporate Reporting: Assessing the World&#8217;s Largest Companies\u2019 by \u2018Transparency International\u2019 Secretariat (TI-S) and carried out in cooperation with \u2018Transparency International\u2019 Secretariat and international audit and financial advisory company \u2018Deloitte\u2019.<\/p>\n<p style=\"text-align: justify;\">More information might be found <strong><span class=\"plugin_link\"><a href=\"http:\/\/skaidrumas.lt\/imones\">here<\/a><\/span><\/strong> .<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/1&#8243;][vc_column_text] Swedish bank \u2018Swedbank\u2019(91 point) and Lithuanian state-owned enterprise \u2018Lietuvos energija\u2019 (81 point) accounts best for their activities in Lithuania. One&#8230;<\/p>\n","protected":false},"author":1,"featured_media":14882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-14881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CORPORATE ACCOUNTABILITY - Transparency International Lietuvos skyrius<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transparency.lt\/en\/corporate-accountability-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CORPORATE ACCOUNTABILITY - Transparency International Lietuvos skyrius\" \/>\n<meta property=\"og:description\" content=\"[vc_row][vc_column width=&#8221;1\/1&#8243;][vc_column_text] Swedish bank \u2018Swedbank\u2019(91 point) and Lithuanian state-owned enterprise \u2018Lietuvos energija\u2019 (81 point) accounts best for their activities in Lithuania. 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