The Importance of CSR in Financial Reporting Standards
Keywords:
corporate social responsibility (CSR), financial statement analysis, global reporting initiative (GRI), sustainability factors, environmental manageme
Abstract
The purpose of this article is to review the recent trends related to corporate social responsibility (CSR) and financial reporting standards. The researcher presents four CSR background theories to evaluate the importance of sustainability in the financial reporting arena. The Big Four accounting firms are promoting the importance of adopting CSR in financial statements. Scholars and practitioners acknowledge that there is an existing relationship between corporate governance and CSR. The 7Ps presented in the study served as guidance for developing a sustainable and adequate CSR financial reporting system. The three pillars that support sustainability are environmental, social, and economic. It is expected that in the future the triple bottom line theory (TBL) will be known as integrated report (IR). Evidently, the adoption of corporate responsibility in financial statements has the ability to increase the amount of relevant information provided to shareholders and stock exchange markets around the world.
Downloads
- Article PDF
- TEI XML Kaleidoscope (download in zip)* (Beta by AI)
- Lens* NISO JATS XML (Beta by AI)
- HTML Kaleidoscope* (Beta by AI)
- DBK XML Kaleidoscope (download in zip)* (Beta by AI)
- LaTeX pdf Kaleidoscope* (Beta by AI)
- EPUB Kaleidoscope* (Beta by AI)
- MD Kaleidoscope* (Beta by AI)
- FO Kaleidoscope* (Beta by AI)
- BIB Kaleidoscope* (Beta by AI)
- LaTeX Kaleidoscope* (Beta by AI)
How to Cite
References
Rabia Aktas, Koray Kayalidere, Mahmut Kargin (2013) Corporate Sustainability Reporting and Analysis of Sustainability Reports in Turkey. 5(3), 113-125.
P Ambrose (2013) Shift in EU's attitude to CSR. 45(6), 36-37.
Antonia García-Benau, M Sierra-Garcia, L Zorio, A (2013) Financial crisis impact on sustainability reporting. 51(7), 1528.
D Bala (2010) The role of dynamical systems theory in economics. 5(3), 251-256.
K Bogart (2013) Understanding the influence of the board of directors on corporate social.
Enrique Bonsón, Michaela Bednárová (2015) CSR reporting practices of Eurozone companies. 18(2), 182-193.
Garry Carnegie, Christopher Napier (2002) Exploring comparative international accounting history. 15(5), 689-718.
A Carroll (1999) Corporate social responsibility. 38(3), 268-295.
C Certo, S Certo, S (2012) Modern management: Concepts and skills.
F Choi, D, S Meek, K, G (2005) International accounting.
A Christofi, P Christofi, S Sisaye (2012) Corporate sustainability: Historical development and reporting practices. 35(2), 157-172.
D Cormier, M Magnan, B Van Velthoven (2005) Environmental disclosure quality in large German companies: Economic incentives, public pressures or institutional conditions. 14(1), 111-122.
Merrelyn Emery (2000) The Current Version of Emery's Open Systems Theory. 13(5), 623-643.
O Ferrell, Linda Ferrell, Jennifer Sawayda (2015) A review of ethical decision-making models in marketing.
J Ferrero, I Garcia-Sanchez, B Cuadrado-Ballesteros (2013) Effect of financial reporting quality on sustainability information disclosure.
E Freeman (1984) Strategic management: A stakeholder approach.
C Jacob (2012) The impact of financial crisis on corporate social responsibility and its implications for reputation risk management. 2(2), 259-275.
A Jayakumar, G Anbalagan, L Kannan (2012) CSR in India-A vision for the future. 2(1), 94-103.
A King, W Bartels (2015) Current changes. The KPMG survey of corporate responsibility reporting.
I Lin (2010) Users' and preparers' perception of sustainability reporting and corporate sustainability.
F Marimon, M Alonso-Almeida, M Rodriguez (2012) The worldwide diffusion of the Global Reporting Initiative: What is the point?. 33, 132-144.
K Mcdermott (2012) Financial reporting quality and investment in corporate social responsibility.
M Mitchell, A Curtis, P Davidson (2012) Can triple bottom line reporting become a cycle for "double loop" learning and radical change?. 25(6), 1048-1068.
L Moutinho, G Southern (2010) Strategic marketing management.
T Noble, B Mattison, M Matsumura (2015) Managerial accounting: Custom edition for Miami Dade College chapters.
Carlos Noronha, Si Tou, M Cynthia, Jenny Guan (2012) Corporate Social Responsibility Reporting in China: An Overview and Comparison with Major Trends. 20(1), 29-42.
S Sen, J Cowley (2013) The relevance of stakeholder theory and social capital theory in the context of CSR in SMEs: An Australian perspective. 118(2), 413-427.
S Sethi (1975) Dimensions of Corporate Social Performance: An Analytical Framework. 17(3), 58-64.
T Slaper, T Hall (2011) Triple Bottom Line. 86(1), 4-8.
D Tschopp, R Huefner (2015) Comparing the evolution of CSR reporting to that of financial reporting. 127(3), 565-577.
E Van Tonder, M Roberts-Lombard (2013) A theoretical framework for managing CSR plans and related initiatives in the modern business environment. 11(12), 503.
R Vollono (2010) Doing well by doing good: The empirical relationship between corporate social responsibility and financial performance.
Vincent Yu, Hsiu‐ Ting (2012) Financial development, investor protection, and corporate commitment to sustainability. 50(1), 130-146.
Published
2016-10-12
Issue
Section
License
Copyright (c) 2016 Authors and Global Journals Private Limited
This work is licensed under a Creative Commons Attribution 4.0 International License.