A guardian shall return to the probate court, in every year, his or her account, in the same manner as executors and administrators are by law required to do, and upon neglect shall be cited by the court so to do; and upon failure to comply with the citation for thirty (30) days, without sufficient excuse, shall be accountable for the full value of the estate and property of his or her ward, and shall have no compensation; but the court may, upon the application of the guardian, excuse him or her from rendering an account in any year if satisfied that it is not necessary or expedient that it should be rendered.