Global Reporting Initiative by Woolworth and Wesfarmers: A Comparison

Contemporary Accounting Practice
1

Contents
Part 1: Discussion on the use of Global Reporting Initiative by Woolworth and Wesfarmers.......3
Part 1(a): Comparison and contrast on the GRI Output and objectives for both companies...........3
Part 1(a) (i): Comparison.............................................................................................................3
Part 1(a) (ii): Contrast..................................................................................................................3
Part 1(b): Reflecting the Principles of GRI in Woolworths.........................................................4
Part 1 (c): Reflecting the Principles of GRI in Wesfarmers........................................................5
Part 2: Analysis of Ethical Actions of Wesfarmers as per Utilitarian Ethical Theory....................5
Part 2 (a): Utilitarian and Deontological Approach.....................................................................5
Part 2 (b): Ethical Actions............................................................................................................5
Part 2 (c): Unethical Actions........................................................................................................6
Part 2 (d): Judgment whether ethical or not.................................................................................6
References........................................................................................................................................7
2

Part 1: Discussion on the use of Global Reporting Initiative by Woolworth and Wesfarmers
Part 1(a): Comparison and contrast on the GRI Output and objectives for both companies
Part 1(a) (i): Comparison
Comparison of GRI Objectives and Output
Basis of GRI Objectives
At Wesfarmers, development of people is the prime objective. Wesfarmers is committed
to provide the safe workforce to their employees and creating the best opportunities to improve
the career of employees (Wesfarmers: Sustainability Report, 2018). Woolworth tends to promote
the diversity at workplace. As per the Woolworth, women should occupy 40% percent of the
executives and senior management. Wage gap has also been reduced between men and women.
Woolworth has the major purpose to include the indigenous people in the workforce to support
the local societies and contribute to the welfare of Australian people (Woolworth: Sustainability
Report, 2018).
Basis of GRI Outcomes
As seen in sustainability report of Wesfarmers, it has been found that company prepares its
report in accordance with GRI. Same has been audited by Auditor Ernst and Young
(Wesfarmers: Sustainability Report, 2018). Wesfarmers has chosen core options to prepare the
report as this option suits their GRI Outputs. Woolworth has prepared its report through using all
the standards mentioned in GRI Index and same has been provided in detail in sustainability
report itself. Woolworth has prepared its report in accordance with GRI and it has been verified
by its auditor Deloitte. It has also used the core option to prepare its report but its report seems to
be properly formatted and arranged according to the requirements if GRI guidelines which were
not seen in the sustainability report of Wesfarmers (GRI 101: Foundation, 2016).
Part 1(a) (ii): Contrast
Contrast of GRI Objectives and Output
3