Rod is a character, by all accounts (3)
I believe the answer is:
cue
'rod' is the definition.
(I've seen this before)
'character by all accounts' is the wordplay.
'character' becomes 'q'.
'by all accounts' shows a homophone (sound like) ('by all accounts' can mean 'we hear').
'q' is a homophone of 'CUE'.
'is a' is the link.
(Other definitions for cue that I've seen before include "Catchword" , "A snooker ball striker" , "Signal to players" , "line in speech" , "Snooker player's stick" .)