Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN: 9781305080577
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: South-Western College Pub
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Chapter 17, Problem 62RSCQ
What factors have driven the demand for sustainability reporting? Refer to Exhibit 17.20 and describe the standards that exist for sustainability reporting and assurance.
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Auditing: A Risk Based-Approach to Conducting a Quality Audit
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- Explain the role and purpose of the Sustainability Accounting Standards Board.arrow_forwardSustainability reporting can incorporate which of the following? A. environmental reporting B. social reporting C. business viability reporting D. all of the abovearrow_forwardBeginning 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_forward
- Which of the following is NOT disclosed in sustainability reports? a. Assessments of the impact on the local community b. Policies and practices regarding sourcing from local suppliers c. Accounting policies and estimates d. Initiatives to reduce greenhouse gas emissionsarrow_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_forwardWhat role may sustainability reporting play in enhancing trade in underdeveloped nations? Also when reporting on sustainability, what governance, systems, and processes are required? Content is important.arrow_forward
- Provide examples of how management accounting systems might be modified to enable an organisation to participate in sustainability reporting efforts.arrow_forwardSustainability reporting can incorporate which of the following? environmental reporting social reporting business viability reporting I don’t really care I just want a good grade All of the above (excluding “I don’t care…”)arrow_forwardTrue or False Sustainability reporting can be a tool to attain cost savings One of the main developers of sustainability reporting has been the Global Reporting Initiative (GRI)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 SWOT matrix tool is used for the socio-environmental diagnosis of organizations. If a green organization is a situation in which its projects were executed to represent the commercialization of more products, this is a a. Preventive measure. b. Weakness. c. Force. d.Threat. e. Opportunity.arrow_forwardEnvironmental Financial Reporting, Ecoefficiency, Improving Environmental Performance The following items are listed in an environmental financial statement (issued as part of an environmental progress report): Environmental benefits (savings, income, and cost avoidance): Ozone-depleting substances cost reductions Hazardous waste disposal cost reductions Hazardous waste material cost reductions Nonhazardous waste disposal cost reductions Nonhazardous waste material cost reductions Recycling income Energy conservation cost savings Packaging cost reductions Environmental costs: Corporate-level administrative costs Auditor fees Environmental engineering Facility professionals and programs Packaging professionals and programs for packaging reductions Pollution controls: Operations and maintenance Pollution controls: Depreciation Attorney fees for cleanup claims, and notices of violations (NOVs) Settlements of government claims Waste disposal Environmental taxes for packaging…arrow_forward
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