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The Business School BUACC2606 Corporate Accounting The politicisation of accounting, Journal of Accountancy

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a. Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler above.
b. Discuss the standards that are inherent in Global Reporting Initiative (GRI).
c. Choose a company listed on the ASX and discuss how the company has disclosed Corporate Social Responsible (CSR) issues. Refer to instruction 2 below.
d. Evaluate your company performance in relation to GRI standards and comment on Stigler’s theory

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Question Preview:

a. Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler above.
b. Discuss the standards that are inherent in Global Reporting Initiative (GRI).
c. Choose a company listed on the ASX and discuss how the company has disclosed Corporate Social Responsible (CSR) issues. Refer to instruction 2 below.
d. Evaluate your company performance in relation to GRI standards and comment on Stigler’s theory

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Solution preview

Corporate Social Responsibility (CSR) is the concept that has been developed by the IISD which puts a mandatory obligation on every corporation which caters to large group of stakeholders mainly employees, suppliers, consumers, government, regulatory bodies and society as the whole. The guidance so adopted puts a social and environmental responsibility on these corporations and to take up the act of social sustainability in the long run of the corporation. CSR activities of late have gained wide importance due the factors of sustainability issues, stakeholder’s interest deprivation and many other such factors. The model presents the optimization of the present economic activities with conserving and preserving of resources for the future society and business activities. The model as a whole includes the strategically practices and processes to meet various ends of the stakeholders and to protect and meet the requirements of the resources in the future.

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