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The use of the word “disclosure” has increased since the turn of the millennium, and it is interesting to ponder whether this is because more firms are taking the ethical and open route to disclosing their activities, or whether pressure groups and financial scandals have meant that a lack of disclosure has been highlighted more. The word comes from the Latin “claudere” meaning “to close”, which developed in Old French into “desclore” meaning “to reveal, to uncover, to expose to view”. The meaning in English has become to focus on business ethics and making transparent the inner workings, decision-makings and...

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