Analysis of CSR Reporting of Wells Fargo & Company

Running head: ACCOUNTING THEORY AND CONTEMPORARY ISSUES
Accounting Theory and Contemporary Issues
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1 ACCOUNTING THEORY AND CONTEMPORARY ISSUES
Executive summary:
Corporate social responsibility is the internationally accepted self-regulatory norms to be
followed by the corporate entities while conducting the business operations. Over the years the
importance of corporate social responsibility have increased by multiple folds. As a result
corporates are now under obligation to compulsorily follow the standard norms and regulations
and make report on corporate social responsibility initiatives taken by them in a financial year.
Along with the financial reports the business entities are under compulsion to prepare annual
corporate social responsibility or CSR report. Wells Fargo Company is an American company
providing financial services in America and other parts of the globe has certain responsibilities
towards CSR reporting. An in-depth analysis of the CSR reporting of the company has been
made here to identify the areas to improve for the company in the future.

2 ACCOUNTING THEORY AND CONTEMPORARY ISSUES
Contents
Executive summary:........................................................................................................................1
Introduction:....................................................................................................................................3
News piece on CSR activities of Wells Fargo:................................................................................3
Corporate Social Responsibility highlights:..................................................................................10
Recommendations:........................................................................................................................12
Conclusion:....................................................................................................................................14
References:....................................................................................................................................15

3 ACCOUNTING THEORY AND CONTEMPORARY ISSUES
Introduction:
An American multi-national financial service provider, Wells Fargo & Company is a
multi-national company with its operations stretching to different parts of the globe.
Headquartered in San Francisco, California, the company also has number of central offices in
all across the USA. Wells Fargo is the fourth largest bank in the world in terms of market
capitalization. It is also the third largest US bank in terms of total asset value. As mentioned at
the start of the document that the business organizations including financial service providers are
under obligation to make annual report on their corporate social responsibility initiatives to let
the stakeholders of the organizations know about the various social and important initiatives
taken by them to fulfil their responsibilities under CSR guidelines (Amira, 2013).
News piece on CSR activities of Wells Fargo:
A recent news piece on the CSR of Wells Fargo & Company has been chosen for evaluation in
this document. The evaluation of the news article shall be made with the objective of providing
neutral perspective of CSR reporting of the company along with providing recommendations to
improve the CSR reporting of the company in the future (Www08.wellsfargomedia.com, 2019).
Wells Fargo among the most transparent on environmental, social and governance metrics is an
article published by the Newsroom on May 13, 2019. Thus, the heading of the news article as
can be seen from the screen shot of the news article attached below it is clear that the company
has been quite transparent in its CSR reporting.