social and environmental reporting

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SQue The European Commission adopted on 16 April 2013 a proposal for a directive enhancing the transparency of certain large companies on social and environmental matters. This Directive amends the Accounting Directives (Fourth and Seventh Accounting Directives on Annual and Consolidated Accounts, 78/660/EEC and 83/349/EEC, respectively). The objective is to increase EU companies’ transparency and performance on environmental and social matters, and, therefore, to contribute effectively to long-term economic growth and employment. Companies concerned will need to disclose information on policies, risks and results as regards environmental matters, social and employee-related aspects, respect for human rights, anti-corruption and…show more content…
To work up to and beyond the minimum, rather than simply waiting for someone else to change anything and then changing when they have to. Advantages of Social Accounting and Reporting • Social accounting will provide you with an ongoing record of how your organisation or enterprise has developed and changed over time. • You will get feedback on how things are going from the range of people involved in your organisation or enterprise. • You will be able to identify the areas where things are working well and not so well—and you can use this information to help continue what you are doing well and make improvements to change what’s not working so well. • You will know how well you are achieving your aims and values. • You will have a record of what your organisation or enterprise is doing and the sorts of impacts it is having—information you can use when applying for grants and funding, for reporting on grants, and for promoting what you do. Principles of Social Accounting Social Accounting and Audit uses eight key principles to underpin its process, ensure verification is effective and deliver continuous improvement. These are: Clarify Purpose Define Scope Engage Stakeholders Determine Materiality Make Comparisons (benchmarking) Be Transparent Verify Accounts Embed the process Using these principles enables the organisation to maintain effective social accounts, enables them to be verified and ‘signed off’ and provides a
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