The world's multinational corporations would have you believe that their accounts are a true and fair view of the transactions that they undertake, but this is in very many ways very far from the truth. First of all, there is no one company that actually undertakes all the transactions that they include in their financial statements. And, secondly, their financial statements exclude from view all the transactions between the subsidiaries that are owned by the multinational corporation's parent company. The consequence is that the accounts present a very selective view of what actually takes place within the multinational corporation, in a format that is designed largely for the benefit of its bankers, and no one else. In this video I explain why changes needed so that everyone interested in a multinational corporation's affairs gets the data that they need. ABOUT RICHARD MURPHY Richard Murphy is a chartered accountant. After training with what is now KPMG he established his a firm of accountants in London, of which he was subsequently senior partner, in parallel with a career as an entrepreneur and company director which lasted until his early 40s. He then moved to a career in campaigning and academia. He co-founded the Tax Justice Network in 2003, the Green New Deal in 2008, the Fair Tax Mark in 2013 and the Corporate Accountability Network in 2019. From 2015 to 2020 he was Professor of Practice in International Political Economy at City, University of London and is now Visiting Professor of Accounting at Sheffield University Management School. His best known book is 'The Joy of Tax'. Follow Richard on his Twitter: www.twitter.com/RichardJMurphy or on his blog: http://www.taxresearch.org.uk/Blog/ Recorded at Spotted in Studios http://www.youtube.com/c/SpottedinStudios

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