CHAPTER 3 African Union Conventions on Preventing and Combating Corruption Abuja Treaty establishing the African Economic Community (1991) 31/10/2003 03/06/1991 25/09/1991 Best Practices for Budget Transparency* Ministry of Interior, Ministry of Justice and Attorney General Ministry of Finance and Economic Planning, Ministry of Trade and Industry Ministry of Finance and Economic Planning Principles of Corporate Governance (international and national)* 20. Some standards and codes require explicit signature and ratification for their iMplementation. Others, such as those relating to accounting, banking supervision and payment systems, require important institutional and organisational arrangements, procedures and practices, but no signatures or formal ratification. In the latter cases, compliance may be vetted by international organisations such as the IMF, World Bank or the Bank for International Settlements. This is typically part of a peer review process to alert a country if it has missed some important element of compliance. Such compliance is usually in the interests of the country, because economic management is thereby improved. In addition, other participants in international (particularly financial) markets may refrain from cooperating with firms and governments of countries that fall short of certain minimum standards. iii. Recommendations 21. The Panel recommends the Government of Ghana to: ? ? 54 Regard the implementation of all standards and codes with a high degree of importance, whether or not they require explicit signatures and ratification. (In this regard, the Panel recognises that almost all of those standards and codes that do not require ratification and signatures have influenced recently enacted Acts of Parliament see Table 3.1.) Ensure that organisational arrangements are in place to guarantee that the laws are fully implemented.