Fighting Corruption

Satisfactory Essays
Fighting Corruption
Corruption is a significant threat to global growth and financial stability. Corruption destroys public trust, undermines the rule of law, skews competition, impedes cross-border investment and trade, and distorts resource allocation. As a group of the world’s largest economies, the G20 is continuing to fight corruption and alleviate its negative impact on economic activity.
There are practical steps that all G20 members can take to reduce the costs of corruption for growth and development. In 2014, the G20 developed high-level principles on beneficial ownership transparency to improve the transparency of company ownership and control. This will support a stronger investment climate and will also protect developing countries from losing further revenue.
G20 Anti-Corruption Working Group
(Co-chairs in 2014: Australia and Italy)
G20 Leaders established the Anti-Corruption Working Group (ACWG) at the Toronto Summit in 2010 in recognition of the significant negative impact of corruption on economic growth, trade and development. Since 2010, the work of the ACWG has been guided by two-year action plans that include commitments by G20 countries to ratify and implement the United Nations Convention against Corruption, criminalise and prosecute foreign bribery, and cooperate with other countries to investigate, prosecute and return the proceeds of corruption. The G20 renews its pledge to fully implement actions agreed in previous action plans.
In 2014, the ACWG held three meetings:
26-27 February, Sydney | More information
9-10 June, Rome | More information
16-18 October, Paris | More information
G20 Anti-Corruption Working Group Achievements in 2014
A high priority for the G20 in 2014 is the effective implementation and enforcement of all outstanding G20 anti‑corruption commitments. Key achievements to date include: development of the G20 High-Level Principles on Beneficial Ownership Transparency (2014) a commitment by all G20 countries to complete

You May Also Find These Documents Helpful

  • Powerful Essays

    services for which society’s demand is great, a highly complex phenomenon which is corruption poses a threat to those goals and services. However, most organisations spend huge sums of money adopting strategies to fight corruption (Whittington et al., 2004). 2.2 History of Auditing The word “Audit” originated from the Latin word 'auditus' which means, 'a hearing'. In the earlier days, whenever there was suspected corruption in a business organization, the owner of the business would appoint a person…

    • 2849 Words
    • 12 Pages
    Powerful Essays
  • Powerful Essays

    2.0: Amplifying Social Accountability (SAc) through Information and Communication Techonology (ICT)1 by: Marlon L. Cornelio2, Convenor for ICT, Global Youth Anti-­‐Corruption (GYAC) Network Synopsis The experience of CheckMySchool(CMS) and Universidad Coherente (UC) showcase how ICT can be used to amplify social accountability…

    • 2774 Words
    • 12 Pages
    Powerful Essays
  • Good Essays

    Fighting in Hockey

    • 846 Words
    • 4 Pages

    whether fighting should be allowed or banned in the National Hockey League (NHL). In generalization, most people see that physically fighting someone, fist-to-fist, is a negative conflict. However, in certain sports fighting is the main objective of the sport. For instance boxing, kickboxing, or the rising sport of UFC (Ultimate Fighting Championship). Then people look at NHL, and point out that fighting is not the main purpose or goal of the sport. People who disapprove of the fighting also believe…

    • 846 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Corruption

    • 455 Words
    • 2 Pages

    Introduction Corruption is defined by the World Bank and Transparency International (TI) as “the misuse of public office for private gain.”1 Though the defination is too narrow in meaning but Corruption is a global phenomenon. It articulates the whole system from primary to secondary level government and non-government officials. It is so involved in our social system that is today necessity to have it for development of low economic disables. The graveness of this menace can be observed from the…

    • 455 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Corruption

    • 509 Words
    • 3 Pages

    1. Explain the claim made in the passage societies are likely to decline due to corruption. Societies are likely to decline due to corruption as it is not a good reputation to have and no other organisations will be willing to accept a society that has been involved in such a situation as corruption. A society also does not want to tempt their members to be part of corruption. Not only does corruption cause the above but it also loses business for the society. The do not want to involve and corrupt…

    • 509 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Fighting Sioux

    • 797 Words
    • 4 Pages

    However the University and the NCAA were given a lawsuit by the Standing Rock & Spirit Tribes. They feel as the mascot and nickname the Fight Sioux is racists and stereotypical to their people. However the school fells as if having the name of the Fighting Sioux should be seen as a great honor, especially because of all the recognition, and the recognition is always positive, the only negative is those of critics but still the lawsuit stands. The university feels as if the lawsuit is lost on their…

    • 797 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Fighting for Peace

    • 828 Words
    • 4 Pages

    Fighting for peace Can one man make a difference in the World By: Zlatko Georgiev I've never understood the war. I do not understand the reasons for starting it and I definitely do not understand why people engage in it with such enthusiasm. I do not understand why people believe the crap that other people are shoving that war begins in order to achieve peace. Wars are started for money and power, for power and money. These are the only reasons for starting the insane killing of thousands,…

    • 828 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Corruption

    • 2532 Words
    • 6 Pages

    Political Corruption: Causes, Effects and Remedies Introduction Corruption is like a parasite1; that resides in the body and feeds from the essential nutrients being given to the being. This parasite is growing at a rapid pace and is feeding on individuals and on society. There will come a time where in this parasite may grow into such a giant that living itself may become a challenge. It is surely beckoning our country India and we need to address this problem. At present there are only a few who…

    • 2532 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Corruption

    • 1921 Words
    • 8 Pages

    CORRUPTION Corruption is a feature of African, social, political and even religious life with disastrous consequences. It not only impedes economy development but also increases poverty by making a few individuals richer and many poorer. So corruption can be defined as making someone morally corrupt or becoming morally corrupt oneself. Forms of corruption Bribery-This is giving money or favors to someone who is in a position of trust, in order to prevent their judgments or corrupt their conduct…

    • 1921 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    corruption

    • 1242 Words
    • 3 Pages

    CORRUPTION Anytime corruption is mentioned in Ghana, politicians and especially government ministers become the easy targets. Why not them? Because the impression has been created that it is only when you are a minister or a politician that you can make ill-gotten wealth or be corrupted. As a result, many low level officials in governmental institutions and agencies who daily rob citizens of Ghana for services rendered are left off the hook. Just imagine this. A friend of mine who lives in Belgium…

    • 1242 Words
    • 3 Pages
    Good Essays