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Russia’s largest companies lag in transparency efforts

Jaclyn Jaeger | February 27, 2018

A first-of-its-kind report assessing the financial disclosure practices of Russia’s largest companies by revenue, many with global operations, revealed dismal results across the board, making them vulnerable to corruption risk.

Among 200 of Russia’s largest companies recently assessed by Transparency International (TI), their profits in combination make up more than seventy percent of total national income, with significant economic, political, and social influence—and yet most rate poorly in terms of their transparency practices. Specifically, the report rated the transparency efforts of Russian companies in three areas: anti-corruption programs; organizational transparency of company holdings; and the disclosure of financial information on a country-by-country basis.

Overall, only 32 companies received five or more points out of a possible ten. The five highest ranking companies were food retailer Magnit (7.9); financial services company Sberbank (7.9); chemical...

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