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A Study on the interpretation of an article entitled

“Current Developments and Trends in Social and Environmental Auditing, Reporting and Attestation: A Review and Comment”

SUBMITTED TO:

Dr.Dilip Kumar Sen

Professor, School of Business

Independent University, Bangladesh (IUB)

In Partial Fulfilment of the Requirements of EMBA Course-513E Management Accounting

By

Mohammed Shamsuddin

Student ID: 1110805

Summer Semester, 2012,

Management Accounting, EMBA

INDEPENDENT UNIVERSITY,BANGLADESH

July 26, 2012

Dr.Dilip kumar Sen

Professor

School of Business

Independent University, Bangladesh

Subject: Letter of transmittal

Sir,

It is great pleasure to submit a report on “Current Developments and trends in Social and Environmental Auditing, Reporting and Attestation: A Review and Comment" as the fulfilment of the partial requirement of EMBA program.

I sincerely hope that you will enjoy reading this report as much as I enjoyed it writing. If you need any further clarification interpreting my analysis please feel free to ask.

Sincerely

Mohammed Shamsuddin ID#1110805

Executive summary

The pressures to believe the social and environmental impact of business operations have been growing gradually over the past four decades. Engaging in social accountability activities and disclosure has emerged as a vital dimension of corporate voluntary exercise. The notion of corporate social responsibility (CSR) is nowadays related to issues such as environmental defence, health and safety at work, relations with local communities and relations with consumers. It may be defined as “a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment” (European Commission, 2001: 5). Companies are thus supposed to voluntarily integrate social and environmental concerns in their operations and interaction with stakeholders. The acknowledgement of CSR implies the need to recognize the importance of disclosure of information on companies’ activities related to such responsibility. Although other terms, such as corporate social reporting, social responsibility disclosure or simply social accounting, may be used to describe this accounting about companies’ performance in non-economic areas, the term social and environmental accounting (SEA) will be the one used in this paper. SEA has been broadly defined as the “the preparation and publication of an account about an organisation’s social, environmental, employee, community, customer and other stakeholder interactions and activities and, where, possible, the consequences of those interactions and activities” The implicit and nowadays taken-for-granted agreement that English is the international language of scientific communication offers an upper hand for English-speaking countries (Australia, Canada, UK, USA), as their academics are in a position to use their mother tongue in their publication activities (Lukka and Kasanen, 1996). However, authors from other countries, many of which from developing countries, hitherto under-represented within the research establishment, enter the ranks of contributors to Accounting, Auditing and Accountability Journal (AAAJ) and other leading edge journals (Owen, 2008: 251). To document international efforts in the field of environmental and social accounting, we compiled information from the latest guidance on environmental and social accounting practices published by the United Nations Statistics Division and relevant policy papers from international environmental and social accounting working groups, academics, national government statistical and accounting bodies,...
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