SG 4 Governance Ethics and CSR Flashcards
1
Q
Define CSR
A
a term used to describe the voluntary decisions made by businesses to actively apply high moral and ethical standards above and beyond those required by the law
2
Q
3 areas of CSR for CPA’s
A
Environmental accounting
Environment costings
Social ethics
3
Q
What 5 key areas does an environmental audit cover?
A
- Environmental policy
- Environmental objectives
- The environmental control system
- Environmental risk assessment
- Compliance with environmental legislation
4
Q
2 uses of environmental costing
A
Internal
External - IFRS/ASPE etc
5
Q
Specific benefits to using environmental costing
A
- informed stakeholders
- integrated business and environmental planning
- improved product and process design
- guidance in the selection of value chain partners
- a heightened awareness of the need to protect the environment
- guidance in budget planning and resource management
6
Q
4 categories for capturing environmental costs
A
Prevention
Assessment
Control
Failure
7
Q
Benefitrs of adopting social ethics
A
- enables management to balance and support achievement of well-rounded set of strategic objectives
- bolster public image and brand
- enhances employee engagement and connection with organization
- improves customer perception and satisfaction
8
Q
Use of incentives in CSR examples
A
- peer nomination
- points programs
- 360 degree reviews
- BSC
