Insight

Reporting government payments: a guide to the regulations

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Report summary

North American and European extractive industry companies will soon be required to produce detailed reports of their payments to host governments. The cost of preparing the reports will run into millions of dollars for larger companies. The regulations raise several issues, both for companies preparing the reports and those that will scrutinise them, such as NGOs. This Insight analyses the issues and pitfalls surrounding this new initiative to increase transparency in the extractive industries.

What's included

This report contains

  • Document

    Reporting government payments: a guide to the regulations

    PDF 412.95 KB

Table of contents

  • Executive Summary
  • Key events in the development of disclosure regulations
  • Origins of government payment disclosure: EITI
    • July 2010: US enacts Wall Street Reform and Consumer Protection Act (‘the Dodd-Frank Act’)
    • August 2012: US enacts SEC final rules
    • June 2013: EU enacts Accounting Directive
    • July 2013: API court case (US)
    • December 2013: Norway enacts transparency legislation
    • November 2014: UK enacts EU Accounting Directive
    • December 2014: Canada enacts extractive sector transparency legislation
    • December 2014: France enacts EU Accounting Directive
  • Summary of Legislative Requirements
  • Conflict of law
  • Issues facing the preparers of the reports
  • Issues facing the users of the reports
  • Compliance Costs
  • Conclusions
  • References

Tables and charts

This report includes 4 images and tables including:

Images

  • Reporting government payments: a guide to the regulations: Image 1
  • Reporting government payments: a guide to the regulations: Image 2
  • Figure 1 - Distribution of ownership of commercial ventures in Angola, Indonesia and Nigeria

Tables

  • Reporting government payments: a guide to the regulations: Table 1

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