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Article: Transparency: The New Peer Review Watchword
- Article from:
- The CPA Journal
- Article date:
- October 1, 2004
- Author:
CopyrightCopyright New York State Society of Certified Public Accountants Oct 2004. Provided by ProQuest LLC. (Hide copyright information)
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According to Merriam Webster's Dictionary, the word "transparent" comes from the Latin transparen, meaning "to show through," and has two primary definitions: "having the property of transmitting light so that bodies lying beyond are seen clearly," and "free from pretense or deceit." For 100 years, that's been the goal of the accounting profession. We want everything we do-the financial statements we audit, the advice we dispense, the tax returns we prepare-to transparently communicate the facts clearly and truthfully to all of our audiences-investors, regulators, corporate management, and the public. Now, we need to adopt transparency as the watchword for our own rules and procedures. ...