WEBINAR ON ASSET DISCLOSURES

Financial Disclosures, also referred to as income and asset declarations and interests declarations, refers to legislation and corresponding systems put in place for public officials to periodically submit information on their assets, income, business activities, interests, etc. Disclosure is proving to be a very powerful public integrity mechanism for two reasons: 1. It is a transparency tool that promotes public official’s accountability and may increase trust in public institutions; 2. It is a mechanism that could provide evidence of corruption. Very few mechanisms combine both the prevention and detection sides of corruption.

Over the years, the World Bank Financial Market Integrity (FMI) Unit has compiled and analyzed information on financial disclosures systems in 176 countries. Using FMI’s experience in this area, this webinar presents global and regional trends on the main components of disclosure systems, good practices, and discuss the main issues to take into consideration when implementing or reforming a financial disclosure system. This webinar also features Mr. Irakli Kotetishvili, Director of the Civil Service Bureau of Georgia. Mr. Kotetishvili presents Georgia’s Asset Declaration system and shares challenges and lessons learned with the management of this transparency and accountability mechanism.