Question

1. Describe the principles for accountability and control in Government Accounting Systems.

Answer 1

Principle of Accountability:-

In ethics and governance, accountability is answerability, blameworthiness, liability, and the expectation of account-giving. As an aspect of governance, it has been central to discussions related to problems in the public sector, nonprofit and private (corporate) and individual contexts. In leadership roles,accountability is the acknowledgment and assumption of responsibility for actions, products, decisions, and policies including the administration, governance, and implementation within the scope of the role or employment position and encompassing the obligation to report, explain and be answerable for resulting consequences.

In governance, accountability has expanded beyond the basic definition of "being called to account for one's actions". It is frequently described as an account-giving relationship between individuals, e.g. "A is accountable to B when A is obliged to inform B about A's (past or future) actions and decisions, to justify them, and to suffer punishment in the case of eventual misconduct".Accountability cannot exist without proper accounting practices; in other words, an absence of accounting means an absence of accountability.

Accountability is an element of a RACI to indicate who is ultimately answerable for the correct and thorough completion of the deliverable or task, and the one who delegates the work to those responsible.

Control in Government Accounting Systems:-

Some way of controling the goverment account system-

1. Having a good framework of goverment accounting system.

2.Carry out the financial business of government in a timely, efficient and reliable manner (e.g. to make payments, settle liabilities, collect sums due, buy and sell assets etc.) subject to necessary financial controls.

3.keep systematic, easily accessible accounting and documentary records as evidence of past transactions and current financial status, so that detailed transactions can be identified and traced and all aggregates can be conveniently broken down into their constituent parts.

4. Maintain financial records suitable for budgetary control, internal control and the needs of auditors.

5. Effective management of government assets, liabilities, expenditures and revenues.