ICAEW SE · Chapter 7 · Question 2 of 18
In the context of governance, what does 'accountability' mean?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Being answerable to others for decisions and actions, and accepting responsibility for their outcomes
Explanation
Accountability means that those with power, such as directors, must explain and justify their decisions to those they serve, such as shareholders and other stakeholders, and accept responsibility for the results. Keeping records supports accountability but is not the same thing. Accountability is the opposite of making decisions without explanation.
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