l. A second important recommendation of the APR Panel is that, in the process of deepening the reforms for public finance management, special attention should be given to reinforcing the institutions responsible for exercising oversight and ensuring transparency and accountability. In particular, the authority and capacity of Parliament and the Administrative Court should be reinforced. The media and CSOs also have important roles to play in promoting transparency and accountability, and their capacities should be strengthened. li. The fight against corruption is another important challenge that requires more effort from the government. New laws and institutions are required, along with the energetic implementation of existing rules and policies, and building the capacity of existing institutions. The political leadership of the country should demonstrate in a tangible and forceful manner its commitment to fighting corruption, irrespective of the identity of the perpetrators and the form that corruption takes. lii. Finally, the APR Panel recommends that greater efforts should be made to place the economic development of Mozambique within the framework of regional economic cooperation and integration. The private sector, CSOs and the public at large should be sensitised to the importance of, and potential gains from, regional economic integration and be empowered to take advantage of it. This applies in particular to Mozambique’s membership of the SADC. The steps being taken by the SADC to accelerate the process of economic integration should also be domesticated and internalised. liii. While Mozambique’s economic achievements during the last decade have been quite impressive, they are not self-sustaining. The country should further strengthen its frameworks for monetary and fiscal policy, based on the principles of transparency, stability, responsibility, fairness and efficiency. In this way, economic stability can be achieved over the long term and stubbornly high poverty levels eradicated. 3.3 Corporate Governance liv. Corporate governance within the context of the APRM seeks to highlight the ethical principles, values and practices needed to ensure the balance between economic and social goals, as well as between individual and communal goals. However, corporate governance in Mozambique is still in its embryonic stages. lv. Not surprisingly, public awareness of corporate governance in Mozambique is still low and best practice is a new concept in most businesses, with the exception of foreign-based organisations. Corporate governance principles are not entrenched in the core businesses of most companies, and there are no proper regulator institutions in place dedicated to upholding such principles. However, following recent reforms in the financial sector, the concept is catching on rapidly and steps are being taken to prepare a National Code of Corporate Governance. 12 A P R M COU N T RY R EV IEW R EP ORT NO. 11