
Sustainable
Development Through Good Governance
Environment
Foundation- Hariyali, September 2002
There is nothing new in the accounting frauds
that have paralyzed US markets. Companies have for long used
creative methods of accounting to inflate earnings and hide
losses. It is just that markets today expect much greater transparency
than before. Earlier you made money by not informing people.
Today you make money by informing people.
Two billion of the world population today comprises peole
who are within the ages of thirteen and nineteen and if you
look back your household you will find that your purchases
very often have been driven by the needs, whims and fancies
of your teenagers.
Finally none of this will happen unless we have transparent,
accountable, participatory, legitimate and equitable governance
system. Our education system and training does not prepare
us how to deal with failure and turn it to your advantage.
We are consumed by the sucess syndrome. We donot realize that
failure, in essence, is a pathway to success.
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