Thus, for instance, in the absence of accurate financial reporting, it would become difficult for banks to make informed decisions about credit allocation unless they have confidence in the information provided by financial reporting. It is the quality, reliability and objectivity of this information which stakeholders rely upon to make informed judgment and allocate resources efficiently.
Transparency is imperative to imbue confidence amongst investors in our markets. The quality of information and the integrity of the market place act as strong modes for brand differentiation. While the quality of information has immediate and far-reaching implications for a particular enterprise, it eventually permeates to the market and the economy as a whole.