Business

Wirecard goes bust as scandal puts focus on German oversight

An accounting scandal at one of Germany's fastest-growing blue-chip companies has raised doubts about the national financial watchdog and, coming on top of other high-profile cases of fraud, led to questions about the country's ...

Security

US investigating hacker ring paid to target corporate critics

U.S. authorities are investigating a vast hacking-for-hire operation that involves attempts to pilfer confidential communications from investigative journalists, short sellers and advocacy groups fighting climate change, ...

Business

Nintendo says 300,000 accounts breached after hack

Japanese gaming giant Nintendo has admitted that hackers have breached 300,000 accounts since early April, gaining access to personal information such as birthdays and email addresses but not credit-card details.

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Accountability

Accountability is the concept in ethics and governance with several meanings. It is often used synonymously with such concepts as responsibility, answerability, blameworthiness, liability, and other terms associated with the expectation of account-giving. As an aspect of governance, it has been central to discussions related to problems in the public sector, nonprofit and private (corporate) worlds. In leadership roles, accountability is the acknowledgment and assumption of responsibility for actions, products, decisions, and policies including the administration, governance, and implementation within the scope of the role or employment position and encompassing the obligation to report, explain and be answerable for resulting consequences.

As a term related to governance, accountability has been difficult to define. It is frequently described as an account-giving relationship between individuals, e.g. "A is accountable to B when A is obliged to inform B about A’s (past or future) actions and decisions, to justify them, and to suffer punishment in the case of eventual misconduct". Accountability cannot exist without proper accounting practices; in other words, an absence of accounting means an absence of accountability.

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