Hello Forum!
In my humble opinion the status in quo is such that some SWFs does not need to be fully transparent due to national security reasons given. I am not completely against the idea of such SWFs but am curious to know more about how you feel about it.
I like to know what you think :
1. Is it that, since its establishment to eternity, no one except the very privileged and rare rare few people within the SWF and possibly the Commander in Chief shall ever have access to the financial details of the SWFs, things like profit and loss, balance sheet, profitable investments and losses if any?
If so, is it not an acceptable idea?
2. Who Audits the SWFs? What standard is it based on?
3. How do you find the status in quo?
sincerely,
Jingo
What is SWF?
Yes I think SWF should have some accountability and some check-and-balance mechanism.
But I am not sure whether this layer should be done semi-transparently at a certain level only, for instance technical or management level, or maybe answerable to a certain parliamentary committee or another audit body.
Also I am not sure if this accountability method should be politicised, from a political angle. For instance released to the public or let it become a populist issue or election issue.
I think that may hamper the work of this SWF, which should be professionally managed independently with little political intervention.
So I think any measures to install more check-and-balance mechanism must take into account how to strike a balance, and not unneccessarily create an extra burden or put in place obstacles and make an overkill.
Meat Pao.
Originally posted by yamizi:What is SWF?
Sovereign Wealth Fund
Any lessons learnt from charities which uses public funds?