Bourdais was fined $10,000 and placed on probation for the remainder of the 2014 season after being deemed responsible for his collision with Justin Wilson at Texas last month, only for the punishment to be completely rescinded two weeks later due to insufficient evidence.
Speaking to AUTOSPORT about the chain of events that led to Bourdais being cleared, Walker said that he anticipates making changes to the way that evidence is reviewed in future.
"I hope so, definitely," he said. "That was the worst-case scenario, if I have to overrule the stewards, because it means that the system I put in place went wrong.
"It's not about my judgment. But at the same time if I'm an appeal court, and I have the option to be able to give clemency or waive a penalty because I think it's the right thing, or we've not looked at it well enough, that's something that should still be there.
"Obviously, people will judge whether I'm worthy of doing that, but I really did think [rescinding Bourdais' penalty] was the right thing to do, and that's something I really want IndyCar to do: if we don't do something right, we stand up and call a spade a spade. And as long as I'm here we'll always do that, because it's important for the competitors to know that we admit our mistakes.
"But also it's important for our employees internally to know that we have got to get it right, otherwise we all look bad." Racer.com