{"id":81758,"date":"2022-11-09T14:00:14","date_gmt":"2022-11-09T19:00:14","guid":{"rendered":"https:\/\/brocku.ca\/brock-news\/?p=81758"},"modified":"2022-11-09T14:17:39","modified_gmt":"2022-11-09T19:17:39","slug":"public-event-digs-into-enforcement-of-extractive-sector-transparency-measures-act","status":"publish","type":"post","link":"https:\/\/brocku.ca\/brock-news\/2022\/11\/public-event-digs-into-enforcement-of-extractive-sector-transparency-measures-act\/","title":{"rendered":"Public event digs into enforcement of Extractive Sector Transparency Measures Act"},"content":{"rendered":"

Helping practitioners understand how to share information around companies\u2019 compliance with the Extractive Sector Transparency Measures Act will be the focus of a Natural Resources Canada public meeting hosted this week at Brock\u2019s Goodman School of Business.<\/p>\n

The event, Goodman\u2019s 2022 CPA Ontario Centre for Public Policy and Innovation in Accounting<\/a> symposium, is being offered in a hybrid format Friday, Nov. 11 from 9 a.m. to 5 p.m., with guests joining in person in the Goodman Atrium and online.<\/p>\n

ESTMA was enacted in Canada on Dec. 16, 2014, as part of a global effort to curtail bribery payments in the oil, gas and mining sectors. Until now, the focus has been largely on compliance with the Act. Moving forward, Natural Resources Canada is stressing enforcement and making reports more accessible for stakeholders.<\/p>\n

\u201cWe are proud to host this important discussion on ESTMA at Goodman,\u201d said Kareen Brown, Director of Goodman\u2019s CPA Ontario Centre for Public Policy and Innovation in Accounting.<\/p>\n

\u201cThe extractive sector accounts for the highest incidences of transnational bribery across all industries, with corruption occurring from awarding contracts and licenses to spending revenues,\u201d she said. \u201cThe influence that bribery payments give to businesses and corrupt officials result in policies that exploit natural resources, increase conflict over revenues and compromise the public good.\u201d<\/p>\n

Brown said ESTMA aims to reduce corruption in the sector by increasing transparency so that governments can be held accountable for their countries\u2019 natural resources.<\/p>\n

\u201cThis symposium brings together experts to discuss its effectiveness and how it can be improved,\u201d she said.<\/p>\n

The presentations will cover a range of issues including a historical perspective of ESTMA, an overview of the new compliance program and data portal, insights from an auditor\u2019s perspective, a discussion of human rights and securities regulation through the lens of conflict minerals, the current state of ESTMA research from a managerial perspective and the equity market reaction to ESTMA disclosures.<\/p>\n

Session speakers are:<\/p>\n