These are the minutes for the fifth CoST Board Meeting, in September 2012.

The Interim Board discussed programme updates, launch events, the Transparency Index, the results from the perceptions survey, financial reports and banking arrangements. Regarding the Transparency Index, it was agreed that the indices and their components should be further refined and simplified, and the potential subjectivitiy of the index was acknowledged as something that needed to be explored in future. The Board agreed that the indices should be piloted in at least one country to test their validity and identify necessary refinements.