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CSR Accounting and Social Responsibility | Assignment

   

Added on  2020-03-23

5 Pages781 Words62 Views
Running Head: CSR Accounting and Social ResponsibilityEthics and Corporate Social ResponsibilityWestpacStudent’s NameStudent’s Number

CSR Accounting and Social Responsibility 2Background of WestpacWestpac has a history spanning over 200 years. It is composed of five customer divisionsthat serve up to thirteen million customers. The divisions include Consumer bank, business bank,BT Financial Group Australia (BTFG), Westpac Institutional Bank (WIB) and Westpac NewZealand. Westpac is the fourth largest bank in order of total assets when compared to NAB,CBA, and ANZ respectively. It operates 1,429 branches with 3,850 ATMs. Westpac has manyproducts available to their customers including; finance and insurance, corporate banking,consumer banking, credit cards, mortgages, investment banking, private equity and global wealthmanagement (Yoon et al. 2006, p. 380).VisionThe vision of Westpac is to be among the world’s great service delivery companies,designed to assist customers, people and communities to grow and prosper. This they intend toachieve through the provision of superior returns to shareholders, ensuring customer satisfaction,creating a conducive environment to attract the best employees and being leaders in thecommunity.Ethical IssuesWestpac has a disclosure document called Product Disclosure Statement which hasinformation on any financial product such as the benefits, risks, costs and the fees or charges thatis associated with a particular product. Additionally, they declare, in their periodic financialstatements including revenues and profits to inform the general public, shareholders andprospective investors on the performance of the bank.

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