Corporate Social Responsibility and Sustainability Reporting

Running head: AUDITING AND ASSURANCE
Auditing and Assurance
Name of the Student
Name of the University
Author Note

1AUDITING AND ASSURANCE
Executive Summary
Corporate social responsibility involves undertaking activities on the part of a corporation
that are directed towards social welfare and the upliftment of society in general.
Sustainability reporting refers to reporting that is done by an organization on corporate social
initiatives that have been undertaken by the organization recently that is over the period of
the last one year or so. Both CSR and sustainability reporting are vital for boosting the image
and reputation of corporations. This report provides an overview of CSR and sustainability
reporting of corporations such as a history of CSR and sustainability reporting, essential
aspects of CSR and sustainability reporting, the key differences and similarities between CSR
and sustainability reporting, guidelines and frameworks associated with CSR and
sustainability reporting and future developments that are likely to occur in CSR and
sustainability reporting.

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Table of Contents
Introduction................................................................................................................................2
1. An Understanding of Corporate Social Responsibility and Sustainability Reporting........2
2. Similarities and Differences between CSR and Sustainability Reporting..........................3
3. A Brief History of Sustainability Reporting and Assurance...............................................4
4. Companies that engage in Corporate Social Responsibility and Sustainability Reporting
and Provide Assurance...............................................................................................................5
5. Future Developments in the Area of Corporate Social Responsibility and Sustainability
Reporting....................................................................................................................................6
6. Guidelines and Frameworks for CSR and Sustainability Reporting..................................7
7. Guidelines and Frameworks for Assurance Reporting.......................................................7
Conclusion..................................................................................................................................7

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Introduction
Corporate Social Responsibility is a business model which is self-regulating in
character and which enables a company or corporation to hold social accountabilities, that is,
to be socially accountable to the public, to stakeholders and to itself. By engaging in the
practice of corporate social responsibility, which is often referred to as corporate citizenship
at times, a company gets to realize or become conscious of the type of impact that it has to
various aspects of society, such as environmental, economic and social (Barkmeyer et al.,
2015). Through participation in the process of corporate social responsibility, a company
operates in a manner that seeks to enhance society as well as the environment rather than
making any negative contribution to them (Bradford et al., 2016). This report provides a brief
overview of what corporate social responsibility and sustainability reporting entails, it offers
an explanation of the differences and similarities between CSR and sustainability reporting,
provides a short history of CSR and sustainability reporting, gives an account of companies
that engage in the practice of CSR and sustainability reporting and also states future
developments that are likely to take place in the area of corporate social responsibility and
sustainability reporting and assurance.
1. An Understanding of Corporate Social Responsibility and
Sustainability Reporting
The term corporate social responsibility is quite a broad concept. Corporate social
responsibility is something that can take on many different forms, depending on the type of
company that is practicing CSR as well as the industry to which the company belongs.
Through the implementation of CSR programs, volunteer efforts as well as philanthropy,
corporations can provide society with many benefits while also boosting their own individual
brands at the same given time. (Epstein, 2018). Corporate social responsibility is very