NATO takes steps to improve financial transparency
NATO on Wednesday (3 June 2015) made public a number of key documents representing the core guidelines covering financial regulations, corporate governance and accounting principles for the Alliance. The move fulfils an agreement Allied heads of state and government made at the Wales Summit last year to enhance NATO financial transparency and accountability.
The documents being released on Wednesday include the following:
- The NATO Financial Regulations, which govern financial administration and which are designed to ensure consistency of approach in efficient and effective resource management.
- The Guidelines on Corporate Governance, which establish the principles to be followed to strengthen transparency and accountability.
- The NATO Accounting Framework, which provides the minimum requirements for financial reporting in NATO.
Progress has already been made with the publication of audit reports by the International Board of Auditors for NATO (IBAN) and the associated financial statements. Together, they underline the commitment of the Alliance towards greater transparency and accountability and recognition of the importance of improving insight into how NATO manages, spends and reports on the use of taxpayer funds.
For more information on NATO transparency and accountability