TRANSPARENCY Definition

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TRANSPARENCY, in economics, (1) Principle adopted in the General Agreement on Tariffs and Trade that governments must make their rules, regulations, and practices open and accessible to the public and other governments. (2) General Agreement on Trade in Services requirement that its member states publish their regulations affecting trade in services, that they notify the Council for Trade in Services of any relevant changes, and that they respond promptly to requests for information from other members.

Learn new Accounting Terms

ACCOUNTING CONVENTION see CONVENTION.

FCPA, in Australia and elsewhere, is Fellow Certified Practicing Accountant. In the USA, see FOREIGN CORRUPT PRACTICES ACT.

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