26-Jul-24 12:00

Terence Ooi, Co-Founder, Wiki Impact

In an era where transparency and accountability are preeminent, the Transparency Score of Malaysia's Foundation' by Wiki Impact highlights significant disparities in the communication practices of over 1,700 registered foundations. With only a small fraction achieving high transparency scores, this report underscores the need for non-profits to adopt open communication to build trust and credibility.

Transparency ensures the ethical use of funds, fosters trust, and promotes accountability, leading to greater support and enhanced reputations for non-profits. These principles are equally valuable for businesses. By adopting similar transparency practices, companies can improve their reputations, build stronger stakeholder relationships, and foster a culture of accountability.

Today, we are joined by Terence Ooi, the Co-Founder of Wiki Impact, to share the findings of this report. We explore how non-profit practices can benefit the business world, draw parallels between the two sectors, and discuss the impact of transparency on business reputation.