The largest companies in Lithuania have become more transparent

Published October 31, 2017

According to the study by Transparency International (TI) Lithuania, Tele2 (100 points), Telia Lietuva (98 points), Maxima LT (96 points) provide most information to the public. Over the past three years, the largest companies in Lithuania have become more transparent. In 2014 their average score was 22 points (out of 100), whereas in 2017 it was 32.

The newest report on private sector transparency evaluates 49 largest companies in Lithuania. To do so, TI Lithuania analyzed corporate websites while looking for publicly available information on the company‘s anti-corruption programme, organisational structure and financial reporting.

A quarter of all evaluated companies received 0 points.

In comparison with 2014, the number of companies that publish their hospitality policy has increased three times (18 out 49 companies). Almost one in three (16) companies have a confidential channel to report possible wrongdoings. 22 companies publicly state a commitment of “zero tolerance to corruption”, although the same number (22) of businesses do not provide any information on anti-corruption measures in place.

More than a half of the companies publicly report their shareholders.
19 companies publicly announce their income. A third publish corporate income taxes paid.

The companies have been selected based on their income records for 2016 that are announced by a business news outlet “Verslo Žinios” and on the companies’ websites.

This report was produced by Transparency International Lithuania as part of a project led by the Transparency International Secretariat with funding from the Siemens Integrity Initiative.

The Transparency in Corporate Reporting assessment conducted in Lithuania uses a similar methodology as the Transparency in Corporate Reporting: Assessing the World’s Largest Companies which is produced periodically by the Transparency International Secretariat. The latest edition of the global report, published in 2014, included Siemens as one of the 124 companies that were assessed.

The content of companies’ websites has been assessed on August and September 2017.

For more information please contact Sergejus Muravjovas, sergejus@transparency.lt, +370 689 97579

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