Reform of International Accounting Standards for Oil, Gas & Mining Offers Opportunity for Greater Transparency
The reforms being considered by international accounting standard setters could give a significant boost to global efforts to better account for revenues from the extractive industries. Disclosure of revenues paid by oil, gas and mining companies for every country of operation is a fundamental step towards improving governance, reducing poverty, and combating corruption in the management of this important source of income for many of the world’s poorest countries.