Skip to content

Governance: Asset declaration

To what extent do relevant laws, regulations, policies, and guidance provide a basis for collecting and publishing data on the interests and assets of public officials?

Definitions and Identification

Most countries around the world have a requirement that public officials declare their interests and assets. Some such requirements are motivated by a desire to avoid conflicts of interest, some to eliminate illicit enrichment, while others combine elements of the two.

There is substantial variance in whose interests and assets must be disclosed. Some frameworks only require public officials who hold specific positions to make financial disclosures, some require all public officials. Some frameworks limit disclosures to the interests and assets under the direct control of the public official alone, some require disclosures of interests and assets belonging to partners, family members, or other intimates.

This indicator is based on the presence and strength of legislation, regulations, or policies that govern whether:

  • Interest and asset data is collected and maintained as structured, open data across the whole country.
  • Financial disclosures contain structured data on income, spending, assets, and debts.
  • Declarations cover both financial (income, assets, and liabilities) and non-financial (e.g., employment, memberships) interests.
  • Declarations are *updated in a timely fashion; this includes both *regular updates and updates that are responsive to changes in position or significant changes in assets and liabilities.
  • Financial disclosures are published.
  • Declarations must also disclose interests and assets held by a public official's partner, family members, or other intimates.
  • A mandate is given to an independent agency or institution to examine declarations and/or investigate violations.

If there are multiple forms of interest and asset declaration requirements operating under different frameworks, you should focus your assessment on the most common domestic form. If there are notable variations in the assessment you would make for other common forms of declarations, please briefly comment on this in the indicator's justification box.

Starting points

  • Sources:
  • Search:
    • For recent updates to financial disclosure laws in the country.
    • The website(s) of the country's ethics or integrity agency or agencies for details of how they collect and manage data, and the basis of this in law or regulation.
    • For examples of current forms used to register financial disclosures, to certify divestitures, to make ethics pledges.
    • For interest and asset databases constructed by journalists or country-relevant NGOs that coordinate multiple streams of financial data; among other information, these may contain details on known gaps in the country's laws or regulations.
  • Consult:
    • Investigative journalists who focus on corruption and integrity issues in the country.
    • Local officials of civil society organizations focused on transparency and accountability in governance.
    • Officials of governmental ethics or public integrity offices.

What to look for?

Look for evidence that can answer the following questions:

  • Is the framework for disclosure and verification of interests and assets data provided for in law, regulation, policy, or guidance?
  • Does the framework require financial disclosures from all public officials, or only officials or nominees to particular positions?
  • Does the framework require financial disclosures from a public official's partner, family members, or other intimates?
  • Does the framework require publication of financial disclosures? Is access to financial disclosures restricted? For example, by providing disclosures only upon request or allowing only in-person review of a paper archive?
  • Does the framework empower an agency or official to ensure the accurate and timely collection and publication of required data? Does it require a verification process?
  • Does the framework specify that information should be updated at regular intervals but also in a manner that is timely and responsive to changes in employment?

National and sub-national considerations

In some countries, frameworks that govern interest and asset declarations may be established primarily by individual states, regions, or cities. To assess such countries, researchers should select the strongest example of sub-national practice, and then indicate whether this is an outlier or an example of widespread practice.

Show/hide supporting questions

Existence

  • Are there laws, policies, or regulations requiring collection or publication of this information in any form?

    • No.
    • They are being drafted, or are not yet implemented.
      Supporting questions: Please provide brief details.
    • They exist and are operational.
      Supporting questions: Please provide brief details.

  • Do relevant laws, policies, regulations, or guidance discuss the publication of open data?

    • There is no mention of data or the publication of data in relevant laws, policies, or guidance.
    • Requirements to publish data are set out in non-binding policy or guidance.
      Supporting questions: Please provide a URL to the most relevant legislation, policy, or guidance.
    • Requirements to publish data are set out in binding policy, regulations, or law.
      Supporting questions: Please provide a URL to the most relevant legislation, policy, or guidance.
    • Requirements to publish this information as open data are set out in binding policy, regulations, or law.
      Supporting questions: Please provide a URL to the most relevant legislation, policy, or guidance.

Elements

  • Provisions for definitions, kinds, and fields:

  • The framework requires collecting specific information on assets and liabilities. (No, Partially, Yes)

    Supporting questions (conditional)

    If Partially: Please indicate which section of the framework refers to this issue and explain your 'Partially' response.

    If Yes: Please indicate which section of the framework refers to this issue.

  • The framework requires collecting specific information on in-kind and non-financial support. (No, Partially, Yes)

    Supporting questions (conditional)

    If Partially: Please indicate which section of the framework refers to this issue and explain your 'Partially' response.

    If Yes: Please indicate which section of the framework refers to this issue.

  • The framework requires collecting information on significant changes in assets and liabilities. (No, Partially, Yes)

    Supporting questions (conditional)

    If Partially: Please indicate which section of the framework refers to this issue and explain your 'Partially' response.

    If Yes: Please indicate which section of the framework refers to this issue.

  • The framework requires disclosure of income and assets held by a public official's spouse, family members, or other intimates. (No, Partially, Yes)

    Supporting questions (conditional)

    If Partially: Please indicate which section of the framework refers to this issue and explain your 'Partially' response.

    If Yes: Please indicate which section of the framework refers to this issue.

  • Provisions for data quality:

  • The rules/guidance empower an agency or official to ensure the accurate and timely collection and publication of required data. (No, Partially, Yes)

    Supporting questions (conditional)

    If Partially: Please indicate which section of the framework refers to this issue and explain your 'Partially' response.

    If Yes: Please indicate which section of the framework refers to this issue.

  • The framework requires a verification process. (No, Partially, Yes) There are many different kinds of verification processes. In some cases, data is required from multiple parties engaged in an activity and that data is then cross-verified. In others, a dedicated agency or official has the authority to conduct audits, engaging with other agencies or external parties to verify information received.

    Supporting questions (conditional)

    If Partially: Please briefly explain the verification process used, and which parts of collected data the framework requires to be verified and which parts it does not.

    If Yes: Please briefly explain the verification process used.

  • Provisions for openness, timing, and structure:

  • The rules/guidance require that data is regularly updated. (No, Partially, Yes)

    Supporting questions (conditional)

    If Partially: Please indicate which section of the framework refers to this issue and explain your 'Partially' response.

    If Yes: Please indicate which section of the framework refers to this issue.

  • The framework requires the publication of income and asset declarations. (No, Partially, Yes)

    Supporting questions (conditional)

    If Partially: Please indicate which section of the framework refers to this issue and explain your 'Partially' response.

    If Yes: Please indicate which section of the framework refers to this issue.

  • The rules/guidance support the collection of structured data. (No, Partially, Yes)

    Supporting questions (conditional)

    If Partially: Please indicate which section of the framework refers to this issue and explain your 'Partially' response.

    If Yes: Please indicate which section of the framework refers to this issue.

Extent

  • How comprehensive, in terms of jurisdiction, is the coverage of the laws, regulations, policies, or guidance assessed for this question?
    • They cover one or more localities, but there are many other localities without such rules/guidance, or with rules or guidance of a lesser quality.
      Supporting questions: Which locality does this framework cover?
    • They cover one or more localities and are a representative example of the kind of rules/guidance that can be found for all, or most, localities.
      Supporting questions: Please explain your answer and provide supporting urls if necessary.
    • They provide national coverage.
      Supporting questions: Please explain your answer and provide supporting urls if necessary.

Interest and asset declarations, sometimes referred to as wealth declarations or financial disclosures, have been used since at least 1960, when the Philippines passed its Anti-Graft and Corrupt Practices Act requiring public officials to declare under oath their assets and liabilities at the beginning and end of their terms in office (Apostol n.d.). In 2003, the adoption of the UN Convention Against Corruption, which includes strong declaration practices, sparked a renewed focus on the declaration as an accountability mechanism. A World Bank study published in 2016 found that 161 of 176 countries had some form of interest and asset declaration, though these showed significant variation (Rossi, Pop, and Berger 2016).

To support government transparency and accountability efforts, this indicator investigates the frameworks countries have in place for collecting and publishing data on the interests and assets of public officials. This indicator pairs with a related availability indicator to compare frameworks and actual practice.