Question

Which of the following responses best describes the nature of corporate sustainability reports?

		Highly regulated and a mandatory requirement of Corporations Law
		The reporting standards developed by the Global Reporting Initiative (GRI) ensure that Sustainability Reports are relevant and faithfully represented.
		The information contained within Sustainability Reports does not generally meet the qualitative characteristics of useful information outlined in the revised Conceptual Framework.
		Most sustainability reports are externally audited by the same company conducting its financial audit.

Answer 1

SUSTAINABILITY REPORTS

Corporate sustainability reporting aims to create long-term stakeholders value through the implementation of a business strategies. Business strategies includes;ethical,social,cultural, environmental and economic dimensions of doing business. These strategies are aims at creating longitivity and transparency to the business.

QUESTION : NATURE OF CSR

CORRECT OPTION : The reporting standards developed by the global reporting initiative ensures that sustainability reports are relevent and faithfully represented.

GRI standards helps businesses, governments and other organisations to understand and thereby communicate of sustainability impact issues on business. It ensures such reports for public good.

INCORRECT OPTION : Highly regulated and a mandatory requirement of corporations law .

Usually the Corporates sustainability reports are voluntary in nature. so it will not be treated as the mandatory requirement of corporate laws.

INCORRECT OPTION : The information contained within sustainability reports does not generally meet the qualitative characteristics of useful information outlined in the revised conceptual framework.

Such reports are always providing qualitative and quantitative characteristics information on the work. So that the investors can easily take decisions on rely on such reports.

INCORRECT OPTION : Most sustainability reports are externally audited by the same company conducting its financial audit.

The corporate sustainability report is audited internally. An internal auditing is done for the measurement of non-financial performances of company.