Transparency & Accountability
To attract investors and gain public support to ensure equitable natural resource development, the highest standards of transparency and accountability should be adopted.
Adam Smith International is committed to transparency in the extractive industries, recognising that developing a transparent and accountable natural resource sector is a long-term investment. Information on bid rounds, licensing mechanisms, contracts and agreements, beneficial ownership status, pricing practices, the fiscal regime, operational cost structures and national geological information should all be in the public domain.
In 2010, we became an official validator of the Extractive Industries Transparency Initiative (EITI), through which we support the implementation of transparency measures in candidate countries.
Our expertise and support to governments in the area of transparency and accountability covers:
- Feasibility scoping
- EITI validation assessments
- Comprehensive analyses of tax payments and government income streams
- Audit support and training
- Civil society strengthening
- Parliamentary support and capacity building
- Value chain transparency assessments