Textbook Problem

Which of the following items (correctly describes an important difference (in most countries and business environments) between traditional financial reporting and corporate sustainability reporting?

1. a. Corporate sustainability reporting is required, while traditional financial reporting is not required.
2. b. Corporate sustainability reporting is voluntary, but the contents of any such report are required to be verified by an independent third party. whereas traditional financial reporting is required and its contents must be verified by an independent third party.
3. c. No published reporting standards exist for organizations to follow when preparing and issuing corporate sustainability reports, whereas published reporting standards do exist for organizations to follow when preparing and issuing traditional financial reports.
4. d. None of these.