The phrase "acknowledged its role" is correct and usable in written English.
You can use it when discussing the recognition or acceptance of a particular function or responsibility in a context, such as a report or analysis.
Example: "The committee acknowledged its role in promoting community engagement and fostering collaboration among local organizations."
Alternatives: "recognized its contribution" or "accepted its responsibility."
BP said in a statement that it had long acknowledged its role in the accident and had urged its drilling partners to accept their share of the blame.
A.J. Martin, Los Angeles... To the editor: Germany has fully acknowledged its role in the Holocaust, and it is now illegal in that country to deny it ever happened.
The US acknowledged its role in the conflict only indirectly, when it inaugurated a Laos memorial dedicated to the veterans of the Secret War in Arlington National Cemetery in 1997.
The United States has never acknowledged its role in creating the Stuxnet virus, nor has it said anything about the huge covert program that created it, code-named Olympic Games, which was first revealed earlier this year by The New York Times.
The British government has never acknowledged its role.
(The United States first denied and then acknowledged its role in the deaths).
The regrets came just a few months after American lawmakers, survivors and their descendants moved to block the company from winning contracts in the United States if it did not acknowledge its role in the shipping of thousands of Jews to Nazi death camps and make amends.
The third agenda item, announced May 16, is considered the most significant to date, as it compelled the FARC to acknowledge its role in drug trafficking.
Brunswick Group chair Alan Parker asserts that ReliantShare must show contrition and acknowledge its role in creating the mess it's in though that won't be enough.
Meanwhile, Israel's military, which generally acknowledges its role in killing wanted Palestinian militants, said it had nothing to do with Friday's bombing.
It took the U.N. six years to acknowledge its role in the cholera epidemic, and even though the former Secretary-General, Ban Ki-moon, declared last December that the U.N. needed to "do the right thing", the U.N. continues to reject victims' legal claims by citing immunity.
