Yakub02
Banned
Possible approaches CSR issues are not the same for each company, because companies operate in different environments. However, for most companies there are some CSR issues, which they might deal with in any of the following ways:
they might ignore the issues, regardless of the effect of any bad publicity on their reputation and public image;
they might comply with legislation and regulations on CSR issues, but do very little of a voluntary nature; and
they might seek to promote active CSR initiatives, which will probably involve communicating information about these initiatives both to shareholders and the general public. 1.3 Reporting requirements There are no international accounting standards on social and environmental reporting.
In some countries, large companies are required to present social and environmental information on an annual basis. USA In the US the Securities and Exchange Commission, which regulates the stock markets, requires listed companies to quantify their environmental expenditure. They are also required to discuss the effects that compliance may have on their profits and any lawsuits against them relating to environmental issues.
European Union Denmark and the Netherlands require mandatory environmental reporting and other countries such as Sweden and France require environmental information to be published alongside the financial information in the annual report.
In the European Union, quoted companies are now required to present certain information in the annual directors’ report, as a narrative business review.
This review should contain information about the main trends and factors likely to affect the future development, performance and position of the company’s business, and information about: environmental matters (including the impact of the company’s business on its environment); the company’s employees; and social and community issues.
they might ignore the issues, regardless of the effect of any bad publicity on their reputation and public image;
they might comply with legislation and regulations on CSR issues, but do very little of a voluntary nature; and
they might seek to promote active CSR initiatives, which will probably involve communicating information about these initiatives both to shareholders and the general public. 1.3 Reporting requirements There are no international accounting standards on social and environmental reporting.
In some countries, large companies are required to present social and environmental information on an annual basis. USA In the US the Securities and Exchange Commission, which regulates the stock markets, requires listed companies to quantify their environmental expenditure. They are also required to discuss the effects that compliance may have on their profits and any lawsuits against them relating to environmental issues.
European Union Denmark and the Netherlands require mandatory environmental reporting and other countries such as Sweden and France require environmental information to be published alongside the financial information in the annual report.
In the European Union, quoted companies are now required to present certain information in the annual directors’ report, as a narrative business review.
This review should contain information about the main trends and factors likely to affect the future development, performance and position of the company’s business, and information about: environmental matters (including the impact of the company’s business on its environment); the company’s employees; and social and community issues.
