Analyse the report by answering the four requirements - Assignment Example

This report, also points out issues related to the environment, safety and health, in addition to how the corporation engages people and the community. Further, the 2011 report is structured in a way that details GRI reporting and provides information on previous reports that is essential in making comparison on the corporation’s sustainability development (Orica Report, 2011). Orica, indicated their 2011 sustainability report, reflected on application level B in relation to GRI reporting among organizations.

According to the standards set by the GRI reporting guidelines, application level B, is suitable for intermediate reporters who, already have an existing policy of implementing sustainability performance. This involves reporting on profile disclosures, reporting on the approach embraced by the management and reporting on not less than 20 performance indicators. The performance indicators focus on Labor practices, human rights, product stewardship, community or society, economic and the environment.

As indicated in page 134 that reports on the corporations GRI Index for the year, 2011, Orica achieved level B by reporting on all the parameters required for this level. However, this is not the appropriate level for Orica; the corporation should meet the application of level A since, reporting on Orica’s sustainability, is advanced and it requires consultation with stakeholders. . The terms that describe the process of independent assurance vary and may include external assurance, verification, assurance and certification (Manetti and Toccafondi, 2012).

Further, independent reviews may vary, and similarly, the information provided by organization also varies in terms of scope related to information intended for assurance. The assurance process reviews, the data quality, how the data was collected, with an intent of improving the final disclosure. In essence, information considered to be of high quality is regarded as trustworthy, and relied on by organizations and others interested in the information. Organizations often seek out assurance for various reasons aimed at improving confidence and trust in areas related to governance, maintaining stable shareholder relations and management process.

Other benefits related to assurance include improving an organization’s reputation or recognition, and instill confidence among stakeholders (Manetti and Toccafondi, 2012). Further, assurance serves to limit risks for an organization, in addition to improving value. Assurance, also aids in improving the engagement between organizations CEOs and the board, as a result of the need to work together to achieve credible sustainability disclosures. In addition, assurance improves internal reporting and various management systems within an organization.

On the same note, external assurance, assists in affirming the robustness of systems responsible for internal controls and provide recommendations for further improvements. The process of assurance also plays a role in enhancing stakeholder communication since, the sustainability report are relied on for