Corporate Accountability

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Summary

What is Corporate Accountability? Meaning.

Corporate Accountability is a broad term that refers to the moral or legal obligation for companies of being accountable to the shareholders or Stakeholders of the organization or even to society as a whole. Stakeholders may include shareholders, employees, customers, suppliers, the local community, special interest groups and the countries or regions that the firm operates in.


In fact, one can distinguish three forms of accountability:

  • Societal Accountability: each organization is seen as accountable for its actions to society in general and to specific groups or organizations within society.

  • Organizational Accountability: within each organization, agents, directors and other trustees are seen as accountable for the way they represent the organization. Also, when these agents in turn appoint and control managers, these are also seen as accountable for the way they run the organization.

  • Interpersonal Accountability: of one person in the organization to another, depending on informal networks, the Organizational Culture and shared values and beliefs.

Three relevant questions at all three above levels when thinking about accountability are:

The concept of accountability is strongly related to other concepts such as Corporate Transparency, Corporate Sustainability, Corporate Responsibility, and Corporate Governance.


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🔥 NEW Accountable Leadership
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A Case of Misapplied Accountability Principle
Please share your opinion and comments on the following case:

Following CA principle, w (...)
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The Roles of Audit Committees
Audit committees are typically perceived as a watchdog. However the presence of an audit committee in corporate governan (...)
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The Need for More Accountability in Africa
In Africa accountability is a dirty word. Until accountability becomes a part of societal behavior, it will remain the d (...)
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CA versus Corporate Social Responsibility
How to differentiate the concepts of CA and corporate social responsibility?
From my understa (...)
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4 comments

Globalisation Asks for More Accountability
Globalization has seen the growth of multinational business such that it is estimated that over half of the largest ‘eco (...)
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Advanced insights about Corporate Accountability. Here you will find professional advices by experts.


Corporate Responsibility Committee

Corporate Responsibility, Corporate Sustainability, Strategic Innovation, Corporate Governance
Even if the interest for and significance of Corporate (Social) Responsibility (CSR) and Corporate Sustainability (CS) h (...)
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The Board of Directors: Roles, Responsibilities and Duties

Board of Directors, Corporate Governance, Board Accountability, Director Liability
Presentation that elaborates on the roles and responsibilities of the board of directors. The presentation includes the (...)

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Compare also: Shareholder Value Perspective  |  Stakeholder Value Perspective  |  Safe Harbor Statement  |  Whistle Blower  |  Globalization  |  Stakeholder Mapping  |  Stakeholder Analysis  |  Triple Bottom Line  |  Directors and Officers Liability Insurance

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