Restoring Trust in Business with Open Data

Martin Martinoff of OpenEconomics recently considered how open data can help restore trust in business. He writes, "A few months ago, the Finance Innovation Lab launched AuditFutures – a new systemic work around rebuilding trust in business. The first innovation workshop on 4 July was a tremendous success and we have developed a strategy to move the work forward. Not surprisingly, open data came up in the discussions in two of the eight innovation domains. We feel that the knowledge and perspectives of the OKFN will bring value to the discussion."

He goes on, "We designed a process to identify the emerging themes that helped form the agenda for the day. We had over hundred perspectives in the room, emerging from over twenty discussion tables. The goal of this process was to collect ideas in a transparent and democratic way, and to visually identify common patterns. Some of the emerging themes are: the need for more flexibility in audits, standards and regulation;  integration of a broader stakeholder community;  better communication of the value of audit;  engaged dialogue with investors;  developing a new culture of challenge and critical thinking."

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Image: Courtesy OpenEconomics