The Public Disclosure Of Information Essay - 1687 Words

As per Lindblom, and Dowling, and Pfeffer, the public disclosure of information in spaces like the annual reports can be made use of by a business to apply legitimation strategies i.e. to elevate the legitimacy and reduce legitimacy gap. This principle has been adopted by several researchers across the globe. Through Annual reports a firm can disclose information to offset any previous negative news or provide information to relevant parties regarding positive features of the organization that was not known beforehand, awards and recognitions received, initiatives executed etc. Even though such disclosures might not necessarily mean there has been any real change brought about by the organization, according to Ashforth and Gibbs (1990), the use of substantive management techniques might require real, objective change in organizational goals, structures, and procedures and practices. Consistent with the conclusions of Lindblom and Dowling, and Pfeffer, Hurt (1970) has deduced that one of the primary functions of accounting as well as accounting reports, is to legitimate the existence and operation of the business. Such views focus on the strategic nature of financial statements and relevant disclosures. Importance of Internal and External Accountability Effective accountability requires a statement of goals, transparent decision-making and relationships, and honest reporting of resource use and achievements, which can emphasize the honesty and efficiency with whichShow MoreRelatedWhistleblower: Protected Disclosure1062 Words   |  5 Pagesdesigned to protect the public interest by: †¢ exposing serious public sector wrongdoing; †¢ ensuring public organisations are responsible and accountable; and †¢ protecting whistleblowers from detrimental action and protecting their privacy. How do I become a whistleblower? 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