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Broad Scope Accountability the Reporting Priority
Author(s) -
Parker Lee D.
Publication year - 1996
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/j.1835-2561.1996.tb00002.x
Subject(s) - accountability , scope (computer science) , accounting , order (exchange) , business , focus (optics) , public relations , reversing , political science , finance , computer science , law , engineering , physics , optics , automotive engineering , programming language
This paper presents a case for reversing the order of priority given to general‐purpose financial reporting objectives so that accountability becomes the objective of primary focus and decision‐making becomes the objective of secondary focus. It proposes a wider concept of accountability aimed at serving a broad community‐based constituency. The disappointed expectations of report recipients and observers, the potential interests of parties beyond the investors, and criticisms of the decision‐making objective are discussed as a precursor to advocating the reshaping and repositioning of accountability.