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Corporate Social Responsibility, 2.3 - Coggle Diagram
Corporate Social Responsibility
Corp should be a good citizen and contribute to the communities
make charitable contribution
encourage its directors, managers, employees to form
relationships with those communities
promote awareness of health, safety and environmental issues
must comply with the ISO 26000 Std social responsibility
ISO 26000
encourage voluntary
commitment by bus org
Core std
Environment
human rights and labor practices
Org gov and gair operating practice
consumer issues and
community involvement
Pyramid layers
Good citizen -> ethical ->
obey the law -> make a profit
Social audit
systematic (and structured) analysis and testing of an org's successin achieving its social responsibilities (understanding
and fulfilling of econ, legal, ethical responsibilities)
Sustainability
Responsibilities
whether a corp will survive in the long term
determine how the BOD and senior mgt are prepared to
continue corp growth and prosperity and to prevent corp decline
policies to develop strategies deal with environment, social and governance (ESG) issues
responsibilities of CSR
BOD: oversee CSR and the effectiveness of gov, risk mgt, internal ctrl processes related to CSR
mgt: establish CSR obj, assessing and managing risks, measuring perf and monitor, report activities
IA: evaluate whether ctrl over CSR are adequate to achieve CSR objectives
all employees: for the success of CSR initiatives
evaluating and auditing CSR
IA must maintain independence and objectivity
when performing CSR audit
e.g. compliance with Internal control frameworks (COSO) /
quality framework (ISO)/ contractual obligations
by element
Governance
Community investment
Environment
Ethics
Health, safety, and security
Transparency
Work conditions and human rights
by stakeholder group
customers
employees and their families
environment
neighboring communities
shareholders
suppliers
2.3