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Do corporate social responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate soci - Essay Example
Author : urielstracke
Finance & Accounting
Pages 6 (1506 words)
Do Corporate Social Responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate social and environment performance or are they merely a public relations vehicle? Name Institution Accounting Theories Introduction Corporate social responsibility (CSR) includes all methodologies and plans, employed by companies to generate a positive impact on the community (McWilliams & Siegel, 2001: p…
The companies categorize the nature and magnitude of their impacts on the society and other related areas as well as their management quality in relation to processes and people employed. The corporate social responsibility reports outline the various companies’ achievements and progress in the corporate society. The information portrayed in the reports must be justifiable and be up-to-date with the current status of the Corporate Act (McWilliams & Siegel 2001: p.71). Many at times, the CSR reports have shown many wavering and unjustified statements about the respective companies in terms of their products, working conditions, employed staff, salary remunerations and other related fields, hence the CSR has received criticism as not being deeply concerned with the minds of stakeholders and shareholders (O’Dwyer, (Eds.), 2000). Most of the companies that exist to date draw their roots back to as far as the 15th century, where the cost of production and purchase were very low and due to limited technology, things were done at a slower pace and at open ground with minimal control. ...