Corporate Governance and Sustainability Reporting

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Running head: CORPORATE GOVERNANCE AND SUSTAINABILITY REPORTING
CORPORATE GOVERNANCE AND SUSTAINABILITY REPORTING
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1CORPORATE GOVERNANCE AND SUSTAINABILITY REPORTING
Table of Contents
Introduction......................................................................................................................................2
Overview/ Background Information................................................................................................2
Frameworks/Standards/Legislations relevant to Reporting.............................................................3
Corporate Governance.....................................................................................................................4
Current Issues & Challenges of sustainability Reporting................................................................5
Future Prospects of Sustainability Reporting..................................................................................5
Conclusion.......................................................................................................................................6
References........................................................................................................................................8

2CORPORATE GOVERNANCE AND SUSTAINABILITY REPORTING
Introduction
The aspect of sustainability is a major issue of concern in the modern business world
where every organization should be abide by the protocols of the society as well as maintain
ethical practice as a part of their organizational strategy. It is important that organizations should
include sustainability reporting in order to strategize their organizational culture and societal
practices towards redesigning an improved framework of business environment in terms of its
accounting practices as well as communicational practices within the managerial hierarchy of the
organization (Gallego-Álvarez & Ortas, 2017). The paper highlights the importance of
sustainability accounting and the extent up to which it can be sufficiently improved by efficient
implementation of corporate governance and operational management in the fields of
communication, accounting as well as organizational strategy making.
Overview/ Background Information
As the survey data as conducted by KPMG in Australia by 2013, it was been found that
the corporate reputation is highly dependent upon effective reporting practice regarding
sustainability as well as expanding investment financially in positive deeds with transparency
(Ganesan et al., 2017). These are the major factors in building public trust and increasing loyal
employee retention within the organization. Moreover, the K-Z Index (Kaplan – Zingales Index)
came out to be 0.6 lower compared to the lower sustainability companies. The lower score is a
better parametric indicator of the fact that few funding constraints in terms of capital is present
within the financial initiatives of the organizations. Through the process of sustainability
reporting companies not only of Australia but also of companies throughout the world gather
data and relevant information regarding the firms existing performance with the objective of
creating a platform where transparent exchange and utilization of available resources takes place