The globe's largest companies are failing to disclose major financial details about their operations in foreign countries, according to a new report.
Transparency International (TI), a Berlin based anti-corruption unit, ranked 124 companies on their financial transparency on their operations abroad. UK firms were amongst some of the highest scorers in the report, while tech giants Apple and Google were among the worst offenders.
The five companies that were the most unclear about their dealings were (from first to fifth); Bank of China, Honda Motor, Bank of Communications, Agricultural Bank of China and Russia's largest bank, Sberbank.
US tech giants Amazon and Google were also singled out in the report, along with Apple and IBM, who all received a score of less than three out of 10 in terms of transparency.
"Amazon, Apple and Google are among seven US companies whose company leadership doesn't publicly demonstrate support for anti-corruption on their website," the report reads.
"Neither Amazon nor Apple say whether they have anti-corruption training for staff. Amazon is the only US company that is silent on its policy on gifts, hospitality and expenses, as well as on the channels it provides for whistleblowers."
Cobus de Swardt, TI's managing director, said that these tech companies should be leading the way in transparency: "Tech companies are driving changes that are making our societies more open and accountable. They should be setting an example for other companies on transparency. We hope they will live up to the promise of their products and be more transparent about the way they operate."
Transparency International chairman Jose Ugaz added: "We need more transparency from multinational companies, whose power in the world economy closely rivals the biggest countries."
"By not responding to people's demands for greater transparency and accountability, companies risk harming their brand and losing customers."
Almost three quarters of the 124 companies that were evaluated in the report did not disclose the taxes that they pay in other countries, and half don't publish revenue information from their foreign operations.