Accountability is the obligation to submit certain financial reports to an authority.
Accountability is the obligation of a person or an entity to present certain reports regarding economic or financial movements . In this way, when rendering accounts, balance sheets or accounting statements must be presented.
It should be noted that surrender is the process and result of rendering . This verb, which has different meanings, can be used with reference to giving or granting someone what belongs to them. Account , for its part, is the action and consequence of counting (enumerate, make a calculation).
About accountability
It is interesting to review various interesting data about accountability:
- This is considered to be the most important obligation that an agent has to fulfill towards the principal.
- It may be the case that there is no agreement between both parties regarding amounts and values, so in that case the agent will have to present a document where they are duly justified and proven.
- It is an obligation to do and it is necessary that, when it is shown, it is suitably documented and instructed, because otherwise it will lack meaning and value.
Accountability involves making known a state or economic result.
Its obligation
Accountability is often mandatory when someone manages public money. Suppose that, in the national budget of a country X , two million pesos are allocated annually to a certain government agency. Once a year, the person in charge of said agency must present an accounting before Parliament to report how the public funds received were spent.
In a private company , a manager will likely need to present an accounting to the president or owner of the firm. The objective is the same as in the case of the State : that a third party can know and analyze what was done with the money.
Accountability in Spain
In Spain , meanwhile, smaller local entities have the obligation to undertake the rendering of accounts annually and always before October 31 . In that sense, although it may lead to confusion, we always try to make it clear that this action is totally different from the approval of the budgets.
Currently in Spanish territory there are various instruments that revolve around the topic at hand. Thus, for example, there is the Accountability Portal , which is promoted by the Court of Auditors and whose objective is to facilitate ordinary citizens who can carry out knowledge of the procedures undertaken by different entities as well as access to the relevant information in this regard.
Broader use of the concept
In its broadest sense, accountability involves reporting or providing explanations about something , taking responsibility for what was said and done and, in many cases, answering questions about it.
The coach of a football team can report to the president of the club by providing details about the work carried out in recent months and listing the achievements obtained.