This best represents the concept of Accountability. Accountability is the assurance that a person or a group will be judged on how they perform or behave in relation to anything for which they are responsible.
What is Accountability?
Accountability is taking ownership of one's duty to act in an honest and moral manner toward others. In the business world, a corporation is responsible to its shareholders, staff, and the larger community in which it operates. Accountability in a broader sense is a willingness to be evaluated on performance.
The idea of accountability is now important in corporate finance. It is especially relevant to the accounting procedures used by a business to create the financial reports it submits to the government and its shareholders.
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