financial accountability

Financial accountability refers to the responsibility of individuals or organizations to manage and report their financial activities accurately and transparently. This involves tracking income, expenses, and budget performance, ensuring that funds are used appropriately and in accordance with laws and regulations. Financial accountability promotes trust among stakeholders, such as investors, customers, and the public, by demonstrating that resources are being handled responsibly. Ultimately, it aims to prevent misuse of funds and ensure that financial decisions contribute positively to overall goals and objectives.