What is financial Accountability?


What is financial Accountability?


Accountability is referred to as the responsibility of an individual or an organization for its activities. It is an integral part of every field such as education, governance, and media. In the workplace, the accountability of employees helps in the smooth functioning of the organization.

Answer and Explanation:

When an individual is responsible for the smooth functioning of financial activity such as a review of the financial accounts by the accountant, it is known as financial accountability. There should be a proper clarification of financial accountability so that the financial processes are performed effectively. In financial accountability, the right department should be assigned to every employee so that the financial activity is performed on time.

Learn more about this topic:

Establishing Team Accountability at Work

from Elements of a Cohesive Work Team

Chapter 2 / Lesson 5

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