تلخیص
The confidence of investors and business community was shaken when financial scandals surfaced in late 80’s and 90’s, raising serious questions regarding the built in accountability and control system in corporate management. Recent failure in a number of internationally recognized business concerns are also perceived as the failure of management in performing the accountability functions adequately. This paper debates that a built in accountability system at different levels of corporate management has quite often been protecting the interests of higher authorities or direct beneficiaries of the respective business concerns and passing on the responsibilities for corporate failure to the lower management; while claiming credit for corporate achievements. It also highlights the importance of “Corporate Management Accountability” to evolve a continuous process that examines the contribution of every individual or group, with in management towards the success or failure of a business to meet stakeholders’ expectation. Efforts have been made to advocate the need for the establishment of clear level of management authorities and corresponding responsibilities. The purpose is to define and establish clear precise levels of management responsibilities against every individual or group in the management that would be held accountable. This process by no means intends to limit management initiatives or exhaust management responsibilities. It also considers the management accountability as a dynamic two way process, recognizing that management failure to account may originate its inability to exercise oversight and role by holding others at the lower level, adequately accountable.
Dr. Nasir Karim, , Syed Muhammad Taqi. (2013) The Importance of Corporate Management Accountability , Journal of Managerial Sciences, Volume 7, Issue 1.
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