ACCOUNTABILITY [sic]: THE REASON FOR THE EXISTENCE OF ACCOUNTANCY

Abstract

This work aimed at understanding if accountability [sic] is the reason for the existence of Accountancy or not. If the answer were positive and correctly understood by Accounting professors, researchers and professionals, we can hope that our social, political and economic status shall briefly attain the level we all desire to the same extent that the concept of accountability [sic] is applied in our country as due diligence. Research made for more than 15 (fifteen) years in the Fundação Instituto de Pesquisas Contábeis, Atuariais e Financeiras [Institute Foundation of Accounting, Actuarial and Financial Research] (Fipecafi) that is connected to FEA/USP revealed there are two basic accountability [sic] forms in the world of private and public business, one of which is their exogenous and endogenous natures. Both accountability [sic] forms contribute to the understanding of the concept of full accountability [sic] to which the entrepreneurial governance model of the International Federation of Accountants (Ifac) refers to. The field research that was the object of a consultation of the World Bank board for South America and the Caribbean to Fipecafi in the beginning of the 90’s that aimed at measuring the level of accountability [sic] in Brazil in the public and private sectors still remains open as a challenge for future researchers of the subject.