Define: Accountability

UK Accounting Glossary

Definition: Accountability


Quick Summary of Accountability




What is the dictionary definition of Accountability?

Dictionary Definition


Accountability is the obligation to give an account. For limited companies, it’s assumed that the company directors are accountable to it’s shareholders and that this responsibility is discharged, in part, by the directors provision of an annual report and accounts.

In any accountability relationship there will always be at least one principal and at least one agent.


Full Definition of Accountability



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https://payrollheaven.com/define/accountability/
Modern Language Association (MLA):
Accountability. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. August 24, 2019 https://payrollheaven.com/define/accountability/.
Chicago Manual of Style (CMS):
Accountability. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/accountability/ (accessed: August 24, 2019).
American Psychological Association (APA):
Accountability. PayrollHeaven.com. Retrieved August 24, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/accountability/

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This glossary post was last updated: 27th January 2019.