Running head: ACCOUNTANT RESPONSIBILITY AND ACCOUNTABILITY
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Accountant Responsibility and Accountability
Elena Tapia
Kaplan University
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Accountant Responsibility and Accountability
Unlike other positions in the company, accountants have a responsibility to
internal and external parties of the organization. The Information compiled and
presented by the accountants are used to make major decisions, including investing,
expanding, downsizing, etc. Accountants are expected to be competent, reliable, and
have a high degree of professional integrity. Business investors and management
strongly rely on the collection and the presentation of financial information. The clients
and third parties can be placed at risk if accounting ethics is not practiced. For investors
or managers, it is important to learn the basics of accounting ethics and their function as
well as what is required by the government is a good way to avoid legal and financial
trouble.
Responsibility to Clients
An accountant who goes after the goal in the accounting profession, is obligated to
accomplish the functions of the separating the truths regarding the organization and
also to communicate the information to investors, banks, management, etc. Accountants
know confidential information about their clients and their businesses. Disclosure of this
information to third parties without the permission of the client could put clients at a
competitive disadvantage. Accountants are ethically obligated to treat client information
as confidential and refrain from unauthorized disclosure. Clients and accountants
should realize that there is no accountant-client privilege as exists between an attorney
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and a client and that accountants may be required to disclose business information
about a client upon order of a subpoena (Freedman, 2014).
Accountants and auditors help to ensure that firms are run efficiently, public
records kept accurately, and taxes paid properly and on time. Accountants analyze and
communicate financial information for various entities such as companies, individual
clients, and Federal, State, and local governments. The provide accurate information to
clients by preparing, analyzing and verifying financial documents, budget analysis,
financial and investment planning, information technology consulting, and limited legal
services. They analyze and communicate financial information for various entities such
as companies, individual clients, and Federal, State, and local governments (Bureau of
