Accountant Responsibility
Barron's Accounting Dictionary:
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Accountant Responsibility
Ethical obligation to those relying upon the accountant's professional work. The accountant has a duty to management, investors, creditors, and regulatory bodies to exercise due care in performing the accounting and attest functions .
The accountant must follow with competence the promulgations of the accounting principles board (apb) and FINANCIAL ACCOUNTING STANDARDS BOARD (FASB), among others.
The accountant must follow with competence the promulgations of the accounting principles board (apb) and FINANCIAL ACCOUNTING STANDARDS BOARD (FASB), among others.
| Accountant's Liability, Accountant In Charge, Accountant | |
| Accountants For The Public Interest (API), Accountants International Study Group (AISG), Accounting |
Investopedia Financial Dictionary:
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Accountant Responsibility
The ethical responsibility that an accountant has to those who rely on his/her work. An accountant has a responsibility to the company’s management, investors, creditors, outside regulatory bodies, and the integrity of the financial markets.
Accountants are responsible for the validity of the financial statements they work on, and must perform their duties in accordance with all applicable principles, standards and laws.
Investopedia Says:
The accountant's responsibility outlines who the accountant is working for. Even though an independent accountant may be hired by a company’s management, the responsibility of an accountant is owed to many others as well. The duty to uphold principles, standards and laws of accounting is owed to the companies, stockholders and creditors they account for.
An accountant who does not uphold his responsibilities can have broad effects on the accounting industry and the financial markets by weakening general perception of all involved.
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Barron's Accounting Dictionary
Dictionary of Accounting Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
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