- The condition of being responsible for an action, *asset, *entity, *procedure, or *process. Individuals with accountability are usually required to justify their actions or decisions in the areas they monitor or safeguard. Modern *corporate governance is dedicated to defining organizational accountability, and to establishing suitable mechanisms for its enforcement and reporting. A *board of directors effects a large part of its accountability for *stewardship of a corporation to investors and other *stakeholders through the mechanism of published *financial statements. It is sometimes noted that chains of accountability generally run upward through organizational structures, in contrast to chains of delegation of authority, which tend to run downward. *Audits are often depicted as central to accountability: auditing has been described as a means of "securing the accountability of individuals and organisations" (Flint, 1988, 3), and it has been claimed that ‘Without audit, no accountability; without accountability, no *control; and if there is no control, where is the seat of power?... great issues often come to light only because of scrupulous *verification of details" (W. J .M MacKenzie, foreword to Normanton, 1966). See also *agency theory.
Auditor's dictionary. 2014.
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Accountability — is the concept in ethics and governance with several meanings. It is often used synonymously with such concepts as responsibility, answerability, blameworthiness, liability, and other terms associated with the expectation of account giving. As … Wikipedia
AccountAbility — AccountAbility, also known as the Institute of Social and Ethical Accountability, is an independent not for profit think tank and global network promoting accountability sustainable business practices and corporate responsibility.Organisation and … Wikipedia
accountability — UK US /əˌkaʊntəˈbɪləti/ noun [U] ► a situation in which someone is responsible for things that happen and can give a satisfactory reason for them: »The organization suffers from a lack of accountability. greater/increased/more accountability »The … Financial and business terms
Accountability — Ac*count a*bil i*ty, n. The state of being accountable; liability to be called on to render an account; the obligation to bear the consequences for failure to perform as expected; accountableness. The awful idea of accountability. R. Hall. Syn:… … The Collaborative International Dictionary of English
accountability — I noun amenability, blame, burden, charge, commitment, dueness, duty, exposure, incumbency, liability, obligation, onus, responsibility, the decent thing, the proper thing, the right thing, trustworthiness, vulnerability II index blame… … Law dictionary
accountability — (n.) 1770, from ACCOUNTABLE (Cf. accountable) + ITY (Cf. ity). Earlier was accountableness (1660s) … Etymology dictionary
accountability — [n] responsibility answerability, blameworthiness, liability; concept 645 … New thesaurus
accountability — noun ADJECTIVE ▪ greater, increased ▪ local, public ▪ demands for greater public accountability in the police service ▪ individual, personal … Collocations dictionary
AccountAbility — An international *not for profit organization dedicated to the promotion of *sustainability and corporate *accountability Based in London, and founded in 1986, AccountAbility’s full name is the Institute of Social and Ethical Accountability. Its… … Auditor's dictionary
Accountability — The responsibility of either an individual or department to perform a specific function in accounting. An auditor reviewing a company’s financial statement is responsible and legally liable for any misstatements or instances of fraud.… … Investment dictionary