Question

WHAT ARE THE REPORTING STANDARDS USED UNDER CORPORATE SOCIAL RESPONSIBLITY

Answer 1

The concept of CORPORATE SOCIAL RESPONSIBILITY focuses on the idea that beyond making profit, a business has social obligations. It is the responsibility of the companies to produce an overall positive impact on society. The organisations have an obligation to consider the interests of the customers, employees, shareholders, communities, and ecological considerations in all aspects of their operations. CSR is closely linked with Sustainable Development, which argues that enterprises should make decisions basd not only on financial factors such as profits or dividends, but also based on the immediate and long-term social and environmental consequences of their activities.

SA 8000 : SOCIAL ACCOUNTABILITY

SA 8000 is a comprehensive, global, verifiable performance standard for auditing and certifying compliance with corporate responsibility. the heart of the standard is the belief that all workplaces should be managed in such a manner that basic human rights are supported and that management is prepared to accept accountability for this. It is an international standard for improving working conditions. This standard is based on international human rights norms.

AA 1000 : ACCOUNTABILITY/ASSURANCE STANDARD

It is generally applicable to all types of organisations, whose objective is to examine the credibility and quality of CSR reports .It provides an operational guidance and issues affective governance, organizational strategy on sustainability, assurance, and stakeholder engagement.

ISO 26000 : INTERNATIONAL ORGANISATION FOR STANDARDIZATION

It is an independent organization managed voluntarily, deals with social responsibility.It aims for better performance by the organizations and improvement in their results, improved customer satisfaction and confidence, ensures to maintain consistency with standards and conventions and treaties.