Rebuilding Public Trust

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Rebuilding Public Trust

  • In my opinion, for any system to work, it must address three fundamental issues.

    • First, provide incentives for people to do the right thing.
    • Second, provide transparency to help assure that people do that right thing.
    • Finally, have effective accountability mechanisms if people don't do the right thing.

  • Restoring public trust will require that every participant in the corporate reporting supply chain embrace and live by the following core concepts*

    • A spirit of transparency - stop playing games with financial and performance data. Use full disclosure.
    • A culture of accountability - management staff, boards, auditors, and stakeholders. High quality, unbiased information to support decision-making.
    • People of Integrity - commitment to individual integrity.