Contemporary Issues in Accounting

Running head: CONTEMPORARY ISSUES IN ACCOUNTING
Contemporary Issues in Accounting
Name of the Student
Name of the University
Author’s Note

1CONTEMPORARY ISSUES IN ACCOUNTING
Table of Contents
Answer to Question 1......................................................................................................................2
Introduction..................................................................................................................................2
Comparing and Contrasting the Sustainability Reports...............................................................2
Conclusion...................................................................................................................................4
Answer to Question 2......................................................................................................................4
References........................................................................................................................................8

2CONTEMPORARY ISSUES IN ACCOUNTING
Answer to Question 1
Introduction
Sustainability Report is considered as a major report that provides the stakeholders with
the information about the environmental, social and governance performance of the business
organizations. The main aim of the report is to compare and contrast the sustainability reports of
two of the major Australian companies; they are Wesfarmers Limited and Woolworths
Limited. It needs to be mentioned that both the companies develop their sustainability reports as
per the guiding principles of Global Reporting Initiatives (GRI).
Comparing and Contrasting the Sustainability Reports
The above discussion states that both the companies follow the principles of GRI in order
to report their performance in diverse areas of sustainability. The following discussion shows the
objectives and outputs of GRI reporting of both Wesfarmers and Woolworths:
Wesfarmers: The main objective of the GRI reporting of Wesfarmers is to provide their major
stakeholders with the information of their performance in the fields of sustainability and business
responsibility. The main stakeholders of Wesfarmers are customers, employees, investors,
suppliers and government (wesfarmers.com.au, 2018). The outcomes of these reports are the
information of these two companies in the areas of people, sourcing, community, environment
and governance. The major outcomes are reduction in the injury frequency rate from 25% to
15%; 40003 factories in the audit program; 5228 number of Indigenous employees; contribution
to the community worth $86.6 million and others (wesfarmers.com.au, 2018).