As a direct result of the "Enron and WorldCom learning experience," there is an increased demand for transparency in financial statements. It has become sort of a mantra.
If transparency is, in fact, the desired result, we must take a number of key steps for it to be accomplished. This includes a definition of the term, an understanding of what it is and isn't, a dedication to its philosophical underpinnings and ethical requirements, and a mechanism to enforce its use.
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