What is Accountability?
Accountability in a business context refers to the principle that individuals and organisations are responsible for their actions and decisions and must be able to account for them to stakeholders. It involves transparency, ethical behaviour, and a commitment to reporting and explaining outcomes.
Related terms
Accountability
Accountability ensures that companies can verify the integrity of their supply chains, uphold compliance with environmental and social standards, and respond to any discrepancies or issues with honesty and corrective action.
Due Diligence
In supply chain traceability, due diligence is the process companies undertake to ensure their suppliers and partners comply with legal, environmental, and ethical standards.
Proof of Authority
Proof of Authority (PoA) is a consensus mechanism used in secure digital ledger networks where transactions and block creation are validated by approved accounts, known as validators.