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The Content of Accountability in Corporate governance

https://doi.org/10.17589/2309-8678-2014-2-3-116-129

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Abstract

This essay examines such aspects of corporate accountability as accounts and financial reporting, compliance to certain efficiency indicators and stakeholders’ interests including moral values, their roles for various groups of stakeholders. For these purposes author analyses the development of agency and stakeholders’ theories in regard to financial reporting, provides evidences of stakeholder accountability in case 
law and legislation are provide and identifies difficulties of stakeholder accountability. It is argued that there is no universal definition of efficiency as a type of accountability and it may be defined through risk management and internal control systems only. Morality is also an ambiguous category for corporate accountability originated rather from political science than jurisprudence and may be used only like upplementary remedy.That analysis allows justification of the absence of conflict between different definitions of accountability, inextricably links between them and their joint application as a guarantee of the achievement of accountability objectives.

About the Author

Natalya Mosunova

Russian Federation


For citation:


Mosunova N. The Content of Accountability in Corporate governance. Russian Law Journal. 2014;2(3):116-129. https://doi.org/10.17589/2309-8678-2014-2-3-116-129

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ISSN 2309-8678 (Print)
ISSN 2312-3605 (Online)