Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Textbook Question
Chapter 1, Problem 24DQP
As discussed in the chapter opening vignette and on page 9, companies are increasingly issuing reports on corporate social responsibility. Visit the Global Reporting Initiative website (www.globalreporting.org) and answer the following questions.
- a. What is the vision and mission of the Global Reporting Initiative?
- b. What is a sustainability report? Explain the use of sustainability reports in integrated reporting.
- c. Explain the two “in accordance” GRI guideline reporting options. What is the GRI guidance on assurance for “in accordance” reports?
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Chapter 1 Solutions
Auditing And Assurance Services
Ch. 1 - What are the information and established criteria...Ch. 1 - Prob. 2RQCh. 1 - Discuss changes in accounting and business...Ch. 1 - Prob. 4RQCh. 1 - Identify the three main ways information risk can...Ch. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Prob. 10RQ
Ch. 1 - Prob. 11RQCh. 1 - Prob. 12RQCh. 1 - Prob. 13.1MCQCh. 1 - Prob. 13.2MCQCh. 1 - Prob. 13.3MCQCh. 1 - Prob. 14.1MCQCh. 1 - Prob. 14.2MCQCh. 1 - Prob. 14.3MCQCh. 1 - Prob. 15.1MCQCh. 1 - Prob. 15.2MCQCh. 1 - Prob. 15.3MCQCh. 1 - Prob. 16DQPCh. 1 - Prob. 17DQPCh. 1 - Prob. 18DQPCh. 1 - Prob. 19DQPCh. 1 - Prob. 20DQPCh. 1 - Prob. 21DQPCh. 1 - Prob. 22DQPCh. 1 - Prob. 23DQPCh. 1 - As discussed in the chapter opening vignette and...Ch. 1 - Prob. 25DQP
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Beginning with strategy, which of the following items lists the areas of the business sustainability cycle in the correct order in which they should be performed? (Note: Not all areas are contained in each list.) a. Sustainability assurance, sustainability reporting, risk management, performance measurement b. Performance measurement, risk management, sustainability reporting, stakeholder engagement c. Stakeholder engagement, risk management, sustainability assurance, performance measurement d. Risk management, stakeholder engagement, sustainability reporting, sustainability assurance e. Stakeholder engagement, risk management, performance measurement, sustainability reportingarrow_forwardSustainability reporting can incorporate which of the following? A. environmental reporting B. social reporting C. business viability reporting D. all of the abovearrow_forwardWhich reporting framework represents global standards for corporate sustainability reporting based on multiple modules that a company can choose from based on what is material for the organization? OSASB O GRI O LEED O CDParrow_forward
- According to the ACCA 2019 report Social and environmental value creation "As the demands have become more precise and increasingly strategic, there is a clear role for finance teams to be more engaged in the creation of sustainable value." Based on this, identify specific ways that business model innovation can embrace social and environmental value creation. Include examples of current businesses adopting this approach.arrow_forwardSuppose you are tasked to construct and evaluate complex financial statements, including those relating to group accounts, to show an organization's financial position and performance. How do SASB standards relate to your task? What is the purpose of sustainability accounting and disclosure? Why are SASB standards needed in the business world?arrow_forwardWhich of the following is an international organization that develops and encourages the use of sustainability reporting standards? a. Global Reporting Initiative b. Financial Accounting Standards Board (FASB) c. United Nations d. International Accounting Standards Board (IASB)arrow_forward
- Briefly define the term accountability and explain why the notion of social and environmental accountability is a greater focus of accounting today. In 50 words or fewer if possible please :)arrow_forwardSustainability is much associated to the Corporate Social Responsibility (CSR) Sustainability is much associated with the environmental protection. Explain 3 benefits of sustainability reporting. Contrast between the concept of corporate social responsibility and sustainability reporting. Justify why GRI Reporting Framework is needed for sustainability reporting assurance. Give 2 reasons to support your answerarrow_forwardAn integrated report is intended to be more than a summary of information in other communications (e.g. financial statements, a sustainability report, analyst calls, or on a website); rather, it makes explicit the connectivity of information to communicate how value is created, preserved or eroded over time. Which is NOT correct? 1. Integrated reporting can be included as part of existing compliant statements? 2. Integrated reporting can be adopted by public companies and non-profit organsiations (NGO’s)? 3. Integrated reporting is only beneficial to the providers of capital? 4. Integrated reporting address the key concepts of an organization?arrow_forward
- Midwest Mfg. uses a balanced scorecard as part of its performance evaluation. The company wants toinclude information on its sustainability efforts in its balanced scorecard. For each of the sustainabilityitems below, indicate the most likely balanced scorecard perspective it relates to. Label your answers usingC (customer), P (internal process), I (innovation and learning), or F (financial). Patents for green products applied forarrow_forwardThe following quote appeared in an article entitled ‘Business and society in the coming decades’, which was available on the website of McKinsey & Company (accessed in October 2015).“There are compelling reasons companies should seize the initiative to drive social and business benefits. First, in an interconnected world facing unprecedented environmental and social challenges, society will demand it. Increasingly, a basic expectation among customers, governments, and communities will be that the companies they do business with provide a significant net positive returnfor society at large, not just for investors. This will be part of the implicit contract or license to operate”.Required:a) Explain the above statement in the context of corporate social responsibility.b) Further, do you think such a statement would impact the perceived ‘legitimacy’ of companies? Explain.arrow_forwardCorporate sustainability reports vary greatly across companies and industries. Select two companies that interest you and conduct an online search to find their corporate sustainability report. (If one or both of the companies you selected do not issue a corporate sustainability report, then select a different company that does issue such a report.) You can either scroll through the corporate sustainability reports for the two companies you selected or you can download them onto your computer and scroll through the downloaded reports. Note: Completing the requirements under this task by answering from the perspective of an BS Accounting Information System student, is highly encouraged. Required: 1. Identify and briefly explain three similarities between the two corporate sustainability reports. 2. Identify and briefly explain three differences between the two corporate sustainability reports. 3. What do you believe is the greatest strength of each corporate sustainability…arrow_forward
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