transparency in business
/trænsˈpærənsi ɪn ˈbɪznɪs/ · trans·pa·ren·cy in bus·i·ness
noun phrase
- The practice of being open, accountable, and clear about operations, decisions, and financial information within a company. Investors praised the firm for its transparency in business, noting the detailed quarterly reports and open board meetings.
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Did you know? The phrase surged in popularity after the Sarbanes‑Oxley Act of 2002, which mandated greater financial transparency for publicly traded companies.