Christian Aid continues to lobby the ‘Big Four’ accountancy firms, Deloitte, Ernst and Young, PricewaterhouseCoopers (PWC) and KPMG.
They are calling for the members of Christian Aid to email the ‘Big Four’ to fight for new accountancy rules. “Currently, accounting rules only call for companies to declare one figure for the amount of profit they make worldwide,” declares Christian Aid. However, Christian Aid is demanding “multinational companies must account for their profits on a country-by-country basis.”
The changes that Christian Aid are demanding for are very reasonable. The way things are now, with the companies only having to account for their profit worldwide, allows the door wide open for tax dodging and evasion. In so doing, they are getting away with not paying billions of dollars in tax that should be pouring back into countries. This ultimately keeps poor countries from developing because the money they should have coming into their economy isn’t coming in.
Christian Aid is already lobbying the UK government to act, but they understand they must pressure the financial sector as well.
In the next post I will explore how Christian Aid is doing this and discuss whether I feel that it’s effective or not.
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