Transparency International - Russia presents “Transparency in Corporate Reporting: Assessing the Russia’s Largest Companies” (TRAC) report. It assesses disclosure practices of 200 companies with respect to their anti-corruption programs as well as availability of information on their subsidiaries and foreign branches. A full-scale assessment of Russian companies using the TRAC methodology has not been conducted previously.
Profit of these companies comprises more than 70% of national income, and their taxes are crucial to Russian budget. However, despite significant economic and political influence, 84% rate low in terms of transparency. Their median assessment is 2.6 out of 10. Only 32 companies got more than 5 points.
Five highest-ranking companies are “Magnit” (7.9), Sberbank (7.9), “Kazanorgsintez” (7.8), “Rosseti” (7.5), and “Nizhnekamskneftekhim” (6.8). Forty-one companies got zero on all three criteria.
The report also includes recommendations on transparency and disclosure of information for businesses, investors, NGOs, and government agencies.