Understandability and Transparency of the Financial Statements of ...

CHAPTER 6: PROFESSIONAL ACCOUNTABILITY
Please note the roles of interviewees as summarised in Table 4.5 will be reflected in
brackets at the end of relevant quotes by the following key: M = Manager; T =
Treasurer; B = Board member; E = Charities sector expert; and A = NZICA member.
6.1 Introduction
The focus in these three findings chapters will firstly be on financial accountability as
reflected in the production of financial statements compliant with appropriate GAAP
and legislation, before finishing the findings chapters by looking at performance
accountability in Chapter Eight (Figure 6-1).
Figure 6-1 Dimensions of Accountability
Financial accountability encompasses a wide range of categories including: compliance;
control; fiduciary; fiscal; process; professional; and probity (Connolly & Dhanani,
2009; Connolly & Hyndman, 2003; Hyndman & McDonnell, 2009; International
Federation of Accountants, 2008; Jayasinghe & Soobaroyen, 2009; Keating & Frumkin,
2003). However, when focusing on compliance with GAAP and legislation, the sub-
categories of professional accountability and fiduciary accountability become the focus.
Compliance with GAAP, i.e. professional accountability will be covered in this chapter.
Compliance with legislation, i.e. fiduciary accountability, will be covered in Chapter
Seven (Figure 6-2).
Financial
Accountability
Chapters 6 & 7
Accountability
Performance
Accountability
Chapter 8
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