In: Accounting
Mention the Principles for Defining Report Quality (based on GRI Standards or G4 Guideline). Give an example of its implementation on a construction company.
GRI’s Principles for Defining Report Quality guide choices on ensuring the quality of the information in the sustainability report, including its proper presentation. The quality of the information is important to enabling stakeholders to make sound and reasonable assessments of performance and take appropriate actions.
There are a total of six Principles
1)Balance,
2)Comparability,
3)Accuracy,
4)Timeliness,
5)Clarity
6)Reliability.
ISO 26000 indicates that information relating to social responsibility should be understandable, accurate, balanced, timely, accessible, and comparable. GRI provides similar but more elaborated guidance under the Principles of Clarity, Accuracy, Balance, Timeliness, and Comparability, and also adds the Principle of Reliability. These Principles all go towards helping ensure the quality of the information included in the report
Example of its implementation on a construction company.
Review adequacy of the quality assurance plan: