Trust and Transparency Dialogue

Live at Radio City Hall today, Dennis Nally says trust is at the heart of key solutions we need to turn the current global crisis around. 

Transparency is the lifeblood of investment. Backroom deals may have done us all in, but openness and renewal of trust can again lead us out into freedom, for networks of ongoing renewal.

Global activity is forecast to perform up to 4% real growth in 2010. The world economy is starting to turn around, and so the time is ripe for renewed approaches to lay finer financial foundations. Transparency and convergence will help us to build forward in the future. How can it happen?

Rather than several sets of rules, standards and regulations we need one set of standards – stated in understandable language. It’s time to simplify the complex financial rules that shut out understanding, and lead to mistrust and confusion.

At last, we have a clarion call for simplicity that adds intelligence.

What roads are you rebuilding toward more trust and transparency where you work?

3 Comments

  1. Jim Estill says:

    Nally spoke of the need for transparency then pushed hard for converged accounting standards (IFRS).

    If he was truly transparent, he would have disclosed that PWC stands to make millions in accounting fees by IFRS.

    He did not walk the walk.

  2. eweber says:

    Thanks Jim, you make a good point for all of us. Far easier to call for others to be transparent – than to look for the places we each cover up what conveniently holds out others. Perhaps it’s time to spell out more modern approaches to transparency, and create methods of genuine accountability.

    How would you lead Dennis Nally’s team to more trust and transparency?

  3. Hey Ellen, it’s been too long since we’ve connected (other than through RSS feed)!

    Your post resonated with me today. I spent lunch with a gentleman I just met at a conference (we were both speakers). I asked him a personal question and he gave me an honest, transparent answer – followed with the comment “You are one of three people I’ve shared this with, but you asked.”

    The transparency led to a much higher level of trust, understanding, and deeper relationship.

    Great post. Well said.

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