Corporate Accountability

Accountability has been recognised as a complex concept, which has resulted in it being defined in a variety of ways. Here, we will start from an understanding that accountability is relational with an “accountor” having a responsibility to provide information to an “accountee”. The accountee has the right to receive the information, but further to provide feedback and possibly reward or sanction the accountor. Such accountability relationships have the potential to empower accountees and may, directly or indirectly, result in accountors changing their actions. We can see that there are rights and responsibilities between an “accountee” and an “accountor” within the relationship and so there is a strong link between corporate social responsibility and corporate accountability. Further, it indicates that accountability relates to the demand and supply of information and, in this way, it is closely associated with the concept of transparency. To understand corporate accountability more fully, we also consider to whom and for what a corporation is accountable as well as the mechanisms they use to discharge their accountability. Whilst corporate accountability has the potential to empower accountees, we acknowledge the potential limits of accountability before concluding.