Table of ContentsTypes of AccountabilityPoliticsSocialEnvironmentAuditingDifference Between Accountability and AuditingMeaningPurposeStartPeriodAccounting is a specialized language of business that helps in understanding economic activities. It is an orderly act, of maintaining records of the daily monetary transactions of the business, the transactions are then classified into different groups, followed by a summary so that they can be referred to in case of emergency , then analyze and understand the results of the financial statement and the results must be communicated to interested parties. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essayAccounting is governed by accounting standards. The main function of accounting is to provide material information related to decision making. Cost accounting, management accounting and financial accounting are the branch of accounting. The objectives of accounting are: Proper recording of transactions through journal, books, ledger and trial balance. Disclose the profitability situation from records via the income statement. Present the financial position through the statement of financial position.Provide necessary information on solvency and liquidity position to interested parties.Types of ResponsibilityPoliticsThis is the responsibility of the government and politicians towards public bodies such as Parliament. It refers to the commitment of government officials to act in the best interests of society.SocialD. Crowther defines social responsibility as a view of reporting a company's activities that helps identify socially relevant behavior. It is mainly used for corporate social responsibility (CSR) and is used in organizations such as NGOs. EnvironmentalThis is a scope that identifies resource usage, measures and reports a company's costs that may impact the environment. Costs include penalties and taxes, waste management costs and clean-up costs. It measures the effects of a company's natural environment in monetary terms. Audit It is a logical task that involves examining financial information independently to give an opinion on whether the view is true and fair. Here, organization refers to all units, regardless of their size, structure, nature and form. Auditing is governed by the Auditing Standard. The audit is a primary inspection of every transaction: receipts, books of accounts and documents are checked to show the accuracy of the financial statements. In addition, errors and fraud, manipulation of records or misappropriation can be detected through detailed analysis. Difference Between Accountability and Auditing Meaning Accounting means the consistent maintenance of records of accounts of an organization and the preparation of financial statements at the end of the financial year. the books of accounts and financial statements of an organization. Governed by accounting standards Auditing standard Work carried out by the accountant Auditor Objective To show the performance, profitability and financial position of an organization. Reveal the fact that to what extent the financial statements of an organization give a true and fair view. begins where accounting ends. Auditing begins where accounting ends. Periodic accounting is a never-ending process. Keep in mind: this is just one.