What is the connection between the concept of accountability and corporate governance?
A)the board reviews poor decisions and punishes the person responsible
B)the board delegates decision making to employees but retains ultimate responsibility
C)decisions are made by the person who needs to act on the decision irrespective of their position in the organisation
D)board members are only accountable for decisions made by the board.

Question

Quizplus · Accepted Answer

Accountability refers to the responsibility of an individual or entity to report and take ownership of its actions or decisions. Corporate governance, on the other hand, refers to the system of rules, practices, and processes by which a company is directed and controlled. In corporate governance, accountability is a key principle that ensures that those in charge are held responsible for their actions and decisions. The board of directors is ultimately accountable for the company's performance and is responsible for ensuring that the company is being run in the best interests of its shareholders. However, the board delegates decision making to employees but retains ultimate responsibility. Therefore, choice B is the best connection between the concept of accountability and corporate governance.

What Is the Connection Between the Concept of Accountability and Corporate