THIS TOPIC IS ALL ABOUT ACCOUNTABILITY. IT TALKS AND COVERS ALL THAT IS RELATED TO ACOUNTABILITY IN FISCAL MANAGEMENT

ACCOUNTABILITY

1. Accountability Reporter: ROSIEFE C. RATUNIL

2. Accountability -refers to the acceptance of responsibility for one’s own actions and implies a willingness to be transparent. Because if you are transparent for sure no one will be asking or questioning you like how and why that certain thing was done.

3. Accountability- fiscal management system should ensure that the processes involved in the administration of public funds are conducted openly, and that those involved are held accountable to the highest standards of professional ethics and competence. External audits should be an integral part of any system of fiscal accountability.

4. 4 Pillars of Accountability 1. Responsibility- a duty that binds to the course of action. 2. Answerability- “being called to account”. 3. Trustworthiness- “a trait of being worthy of trust and confidence.” 4. Liability- “being legally bound to a debt or obligation.

5. Examples of Accountability in the Workplace * Employees being present for their entire required shift. *Employees completing any task that have been designated to them. *Employees being responsible for the specific duties that go along with their job.

6. Benefits of Accountability 1. Accountability promotes operational excellence. When employees understand that their work is being looked at and evaluated, they are more likely to put forth stronger effort as it is understood that what they do matters. This is especially true when employees are rewarded for strong accountability with raises, promotions, and public recognition.

7. 2. Accountability safeguards company resources. It is not limited to just doing your job; it is the practice of being honest and responsible for your actions in all situations. When employees are accountable, they are held to a standard that company resources are to be respected, and employees are less like to mistreat company assets as they understand there will be consequences for their actions.

8. 3. Accountability yields more accurate results. Companies with a standard of accountability will have boundaries of acceptable deviation.

9. 4. Accountability builds external investor trust. An investor's confidence in a company is only driven so far based off the prospect of financial success. Investors must believe that a company is well-run, honest, competent, and efficient with its resources. If a company can demonstrate its accountability, it will be seen more favorably, especially compared to an untrustworthy adversary.

10. Thank you!!!