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Accountability can be defined as “being answerable,” that is, being able to give an account. In the corporate environment, this concept has been closely associated with financial auditing and reporting, as well as with accountancy in general. Within the neoclassical conception of a corporation, accountability is described in terms of the duties owed by the corporation toward its shareholders. Recently, however, corporate social responsibility (CSR) or, as it is otherwise known, corporate citizenship (CC) has led to an increased awareness of the duties associated with the various other relationships in which corporations typically participate. From the perspective of CSR or CC, the corporation is compelled to acknowledge its accountability to a wider network of stakeholders.

AccountAbility, the organization responsible for the AA 1000 standard for social ...

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