Corporate Accountability

Corporate Accountability means reports representing demands of the public and to satisfy
their needs companies release their reports. It is an addition to the reports submitted to SEC
(Securities and Exchange Commission) which are mandatory for a company to submit so
that everyone is aware of the reports and activities are done in their company. It is very
important for a company, as well as their shareholders those, are concerned with investing
in their company. The main purpose is that if anything happens in the future company
should be held responsible for their actions and should bear consequences.

Now, we will look into a case. The case related to Opioid crisis. It was held that opioid
manufactures did fraud and they are liable for legal consequences and also it was held that
family was held responsible for opioid crisis in the U.S. The facts are that Sackler family is
the owner of two major states and they are the owner of Purdue Pharma and hold many
branches it and so it is to be held responsible for the action that it did. It was held by the
court that they are to be held liable and strict consequences should be taken against them.
The main fraud was that the Sackler family took profits from the people for their benefits by
disregarding public health and also increase sales of the product. It was held by the U.S. that
they were involved in illegal activities should be held responsible.

It was contended by the court that incorporates cases the main point to be taken into
account was that every individual should be taken into account and held responsible for his
acts so, Sackler family should be held responsible for doing illegal acts. It was held that every
corporate should keep their individual known to everyone and also they should be held
responsible for doing any acts that put their company to stake. Although Sackler family
denied doing of any illegal still it was held that they are to be held responsible and their
representatives also could not do anything. It was spread worldwide.

Now, we see that corporate accountability is very important for a company and also they
should be held responsible for their acts so they should take into account every single detail
of what they are doing. Corporate Accountability is a very crucial thing for a company so,
corporations should behave properly and should follow every guideline.