What are the Challenges in Maintaining Financial Transparency?
While financial transparency is beneficial, it comes with its own set of challenges:
Complexity: Financial data can be complex and difficult to understand, requiring specialized knowledge to interpret correctly. Data Security: Sharing financial data increases the risk of data breaches and requires robust security measures. Resource Intensive: Maintaining transparency can be resource-intensive, requiring time and effort to generate accurate reports. Resistance to Change: Some team members or stakeholders may resist the move towards greater transparency.