About Problem of Economic Responsibility of an Entity[K problému ekonomické odpovědnosti podniku]

This assay discusses with an opinion that sees the responsibility of an economic entity in practice only in the instrument of guarantee and in the responsibility of management. This article notices, that the responsibility of entity is realised in practice not until critical situation, but during all entity life. The instrument to it is the mandatory disclosure of information. Its extent is different in various countries. As for corporation, the requirements on disclosure are imbedded in generally accepted OECD Principles of Corporate Governance. Majority of these requirements is supported by both sets of multinational financial reporting standards - IFRS as well as US GAAP. In the demands to the presentation of the internal control systems and entity risk management these standards go beyond OECD claims.