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  • christinepetit
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    Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Every public company is required to publish a financial report quarterly and annually detailing its income and expenses. An independent auditor reviewing a company’s financial statements is responsible for obtaining reasonable assurance that the financial statements are free from any material misstatements caused by error or fraud. Healthcare providers should strive to create cultures where doctors, nurses, administrators and patients feel comfortable sharing information about errors and problems. By holding each other accountable, healthcare organizations can work together to make improvements and avoid repeating mistakes. Accountability in the workplace can mean that all employees are accountable for their own actions, behaviors, performance and decisions. It’s also linked to increased commitment to work and employee motivation, which leads to higher productivity. Employees who feel they are being held accountable for their actions, behaviors and decisions are motivated to perform better because they know they will get feedback. Additionally, corporate accountability implies that an organization must be answerable for any deviations from its stated goals and values, which might be documented and made publicly available through a mission statement or vision statement. Beyond that, the concept of corporate accountability is often extended to imply a requirement for businesses to follow ethical, responsible and sustainable practices. Accountants are accountable for the quality of financial reporting in any company. However, there are situations when the financial statements may be manipulated for selfish gains. It is the reason why financial statements are subject to independent external accountants. Shareholders are also interested in the concept of accountability in a company’s operations. Public companies have a fiduciary responsibility to their shareholders by ensuring accurate and timely reporting of earnings for the year and proper execution of trade. Public Guide to Michigan’s Accountability System A resource explaining the various reports available to the public for school accountability and transparency. Please use the links provided below to view Michigan school accountability system reports, related resources, and supports.

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