As a CFO, I keep seeing that the burden of accountability is falling on the shoulders of the business owner instead of trustworthy, competent employees.  This additional burden of accountability is not only unproductive to business owners, but it is negatively impacting the bottom line as well. 

Here are the three main causes of this lack accountability:



• Inaccurate and untimely financial statements: Financial statements are the scorecard of any business and are the supreme measure of business performance. If the financial statements are inaccurate or untimely, how can performance be measured properly? If performance cannot be measured properly, how can one make anyone accountable?
• Fear of Loss of the Employee: If the business owner thinks the employee leaving the company as a detriment to their business, they will deflect as much pressure and accountability away from that employee as possible.
• Lack of a strategic plan: Without a strategic plan the business lacks direction. When a business owner has a strategic direction that they can communicate to the rest of the organization, it gives employees the reason to be accountable. An employee will not be accountable if they are not given a reason to be accountable. The strategic plan consistently applied gives the employees reason to be accountable. Consistency in the strategic plan application is critical because if the strategic plan is inconsistently applied or changed, the accountability is sure to break down.

Having everyone accountable in an organization increases the bottom line, increases the value of the business and allows the business owner to sleep nights!