Academy of Accounting and Financial Studies Journal (Print ISSN: 1096-3685; Online ISSN: 1528-2635)


The Sacred Derivation of Business Transparency and Accountability

Author(s): Alexander Maune

The topic of transparency and accountability has resulted in mixed research findings. Literature related to transparency, accountability and other underlying theories from a Torah and contemporary perspective is critically reviewed in this study. Literature traces the issue of accountability and transparency to the time of Moses, that is, the time of the construction of the Tabernacle in the Torah in Exodus 38. The early 90s inspired a plethora of corporate governance codes with the intention of improving corporate accountability and transparency in the contemporary world. Subsequently, the collapse of corporates such as Enron, WorldCom and Global Crossing placed much emphasis on transparency and accountability. In the Torah we find that when a person dies and is brought before the Heavenly Beit Din (Court) for judgment, the first question he/she is asked is: did you conduct your business dealings with integrity? The Torah requires religious people not only to be punctilious about ritual requirements but also to pay equal attention to the moral requirements of the faith. This study proposes some critical medieval considerations regarding accountability and transparency.