Key Concepts in the Accountability Profession

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Key Concepts in the Accountability Profession

  • Public vs. personal interests

  • Recognizing the difference between the floor (e.g., law, accounting standards) and the ceiling (e.g., principles, values)

  • Doing what is right vs. what is acceptable

  • Economic substance vs. legal form

  • Being concerned with both fact and appearance (e.g., independence)

  • Using judgment vs. completing checklists

  • Recognizing that continuing improvement in today's rapidly changing world is essential

  • Trust is hard to earn, but easy to lose