There are two areas in which a man can be blameless. He can be blameless in his practice based upon his efforts to do right. Additionally, a believer can be blameless positionally, but this is completely based upon the finished work and righteousness of Christ. This second area of blamelessness is the subject of Ephesians 1:4 as is also the case in Colossians 1:22. In the context of that passage, it is clear this blamelessness comes only through the reconciliation of Christ (Colossians 1:21). This means that in Christ, believers bear no guilty responsibility for sins they have committed. Instead, believers are viewed and accepted in the righteousness of Christ (Ephesians 1:6).
The relationship between the master and his stewards is one built upon trust. The master places his possessions into the hands of a steward. He will be reluctant to do this unless that man has proven himself trustworthy. The apostle Paul found no shame in claiming to be a faithful steward of God (1 Corinthians 4:1). As such, he understood the principle that the ministry was placed under his care because God had entrusted it to him (1 Corinthians 9:17; Colossians 1:25; 1 Thessalonians 2:4; 1 Timothy 1:11; Titus 1:3). This fact affected everything the apostle said and did. This truth constantly reminded him that he did not live for himself, and that one day he must give an account for his stewardship.