Lack of transparency in international trade information
The key issues that need to be addressed if long-term capital is to be made available are the provision of acceptable collateral or its alternative in terms of guarantee schemes and the lowering of administrative/transaction costs. [Another problem affecting companies is lack of financial transparency and disclosure.] Suppliers of capital need reliable, transparent and comparable financial information. [Developing countries need to play a more active role in setting the rules for corporate governance and for financial disclosure.] Increased transparency can only increase investor confidence and the supply of investment and credit to large and small enterprises alike. The promotion of internationally recognized accounting and auditing standards can help improve transparency and disclosure worldwide. Some developing countries and countries with economies in transition may need assistance in implementation.