Companies would benefit from being more transparent, says PWC
Speaking at a Cork Chamber of Commerce breakfast briefing yesterday, PriceWaterhouseCoopers senior partner Donal O'Connor said organisations would benefit from being more open and transparent and encouraged them to "tell it as it is" and accept that mistakes were a part of everyday business life.
Mr O'Connor said regulation had become a bigger burden for businesses in recent years, but that a culture where employees felt secure enough to report mistakes would prevent cover-ups. Organisations needed to foster trust so employees would feel comfortable bringing problems to light. This would benefit companies by minimising the potential for mistakes to go unnoticed over long periods and eventually becoming serious enough to threaten the company's business.
