What are standards of accountability? They are the clear rules we live by in our homes, work-life and society that make sure that we as individuals, families, neighborhoods and organizations take responsibility for our actions together and the quality of life, work and leisure we all participate in within our communities.

Standards of accountability are critical first and foremost because they establish trust. In addition they reduce risks especially in economies, workplaces and in healthcare, but also, one could say, as it relates to finances and in particular taxes. 

Standards of accountability also attempt to ensure fairness and equity across government activities, private enterprise, social institutions and economic markets.   

They also hold individuals, corporations, and governments responsible for their actions. And that’s important. When cooperation breaks down, our social structure breaks down. From a financial point of view, markets can become inefficient or collapse. From a tax point of view, we have unfair advantage to those who evade tax and those who are law abiding taxpayers. Without standards of accountability, it’s difficult to define what success or purpose looks like, and we can have chaos and confusion.  

Carol Bellringer, FCPA, ICD.D, is the British Columbia Ferries Deputy Commissioner; Board Member: Winnipeg Airports Authority, Neechewam, Chair U Vic Foundation; Audit Committee member: Manitoba Legislature, GNWTCPAB Hearing Officer.

She is also the Former Auditor General, Manitoba and B.C.

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