In the financial sector, accountability means that the personnel department is held accountable for the performance of a specific function. In an ideal world, they are responsible for the correct execution of a specific task even if they are not performing that task. Another party will rely on the task being completed, and the responsible party is the one whose head will roll if the action is not carried out. Accountability is one of the most serious issues, with significant implications for accountants. For example, the auditor responsible for reviewing the company's financial statements would be held accountable and legally liable for any fraud. Accountants must be cautious and knowledgeable in their work. Accountants have access to highly sensitive financial information due to the nature of their job. Because that work also entails difficulties in interpreting monetary methods and regulations. Accountants must make judgment calls about how to handle and report financial methods. Handling ethical accounting issues frequently necessitates an unwavering commitment to ethical practice on the part of anyone in the accounting field. Because of these and other complex challenges facing the accounting field, employers are increasingly looking for applicants with advanced degrees like master's degrees in accounting.
As an accountant, you would be used to deliver products like finished tax returns or financial plans for small businesses. However, consulting and advisory practices would be much more focused on the discussions he would have with clients. Your focus will shift from providing deliverables and intangibles to providing client-advisory services as you transition from component-focused services to client-advisory services. You'd start to question whether you're doing the right thing. Because of all your wandering, you'd have to create new deliverables, which would take time and effort but would be ignored by your client. Before you know it, you're back to doing too much work for too little pay.
Accountability Authority
And bookkeepers have tried to add value to deliverables such as financial statements that we provide to clients. People end up spending a lot of time, money, and energy beautifying these things, first as branded binders and then as digital dashboards. People are now offering services such as same-day bank feed reconciliation. It is not your fault that you are unaware of the importance and power of accountability. Your clients will be curious about what they are paying for the things they can touch. What, after all, is accountability?
True accountability is ideally coached, and coaching is not the same as teaching. The established curriculum is used for teaching, and the teacher is responsible for ensuring that the students learn the material provided in the curriculum.
If you want to do the right accountability, you must meet with your client and ask questions to establish a baseline for where they stand in the business, as well as assist the client in identifying the goals they want to achieve. It is critical that you do not set objectives for them. You can question the goals if they are not aggressive enough or are far too ambitious for the client's baseline. Will establish a system for documenting goals and measuring outcomes. It doesn't have to be anything fancy. A spreadsheet or a collaborative document will suffice.
