fiduciary accountability

Fiduciary accountability refers to the responsibility of a person or organization (a fiduciary) to act in the best interests of another party, such as clients or beneficiaries. This means managing assets, finances, or information with utmost care, honesty, and loyalty. They must make decisions that prioritize the interests of those they serve, avoiding conflicts of interest and ensuring transparency. Essentially, fiduciary accountability ensures that the fiduciary acts ethically, diligently, and in good faith, putting the needs of others above their own or any external interests.