BUACC 2614 – Management Accounting 2Semester 2, 2012Group Assignment According to Martin and Steele...

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BUACC 2614 – Management Accounting 2Semester 2, 2012Group Assignment According to Martin and Steele (2010, p.13), “The two principal professional associations in Australia – CPA Australia (the CPA) and the Institute of Chartered Accountants in Australia (the Institute) have indicated their awareness of the significance of issues of sustainability reporting and development of appropriate skill sets in word and in deed. The commitment of both organisations to sustainability principles has been shown by their adoption of, and support for, sustainability-focused reporting approaches and by their opting to take up membership of the Accounting for Sustainability Forum”.In a two-part essay: 	Consider the above. Discuss the stance and initiatives of the Australian accounting profession on corporate social responsibility (CSR) Include your views on the role of accounting and the accountant on CSR.  Go to:  	http://www.billabongbiz.com/phoenix.zhtml?c=154279&p=irol-community.     	http://www.visy.com.au/?id=106     	http://www.westpac.com.au/about-westpac/sustainability-and-community/performance-reporting/stakeholder-impact-reports/  
	
Document Preview: BUACC 2614 – Management Accounting 2Semester 2, 2012Group AssignmentAccording to Martin and Steele (2010, p.13), “The two principal professional associations in Australia – CPA Australia (the CPA) and the Institute of Chartered Accountants in Australia (the Institute) have indicated their awareness of the significance of issues of sustainability reporting and development of appropriate skill sets in word and in deed. The commitment of both organisations to sustainability principles has been shown by their adoption of, and support for, sustainability-focused reporting approaches and by their opting to take up membership of the Accounting for Sustainability Forum”.In a two-part essay:Consider the above. Discuss the stance and initiatives of the Australian accounting profession on corporate social responsibility (CSR) Include your  views on the role of accounting and the accountant on CSR.Go to:   HYPERLINK "http://www.billabongbiz.com/phoenix.zhtml?c=154279&p=irol-community" http://www.billabongbiz.com/phoenix.zhtml?c=154279&p=irol-community.http:// HYPERLINK "http://www.visy.com.au/?id=106" www.visy.com.au/?id=106 HYPERLINK "http://www.westpac.com.au/about-westpac/sustainability-and-community/performance-reporting/stakeholder-impact-reports/" http://www.westpac.com.au/about-westpac/sustainability-and-community/performance-reporting/stakeholder-impact-reports/Created with an evaluation copy of Aspose.Words. To discover the full versions of our APIs please visit: https://products.aspose.com/words/PAGE  

David · Accepted Answer

As part of their Corporate Social responsibility, there has been a global trend and acceptance 
of the concept of Non-financial reporting in the form of Sustainability reporting and CSR 
reporting. This is a part of the corporate governance reforms initiated in response to the 
various high profile corporate financial collapses and the resultant global repercussion of 
same. The purpose is to improve and improvise internal processes, measure and monitor the 
sustainability performance and thus promote transparency and accountability in reporting to 
the various stakeholders in environmental and social performance. In the endeavour to remain 
at par with global standards, the two principal professional associations in Australia – CPA 
Australia (the CPA) and the Institute of Chartered Accountants of Australia (the Institute) 
have shown their awareness of the importance of the issues of sustainability reporting. The 
two professional bodies in particular and the accounting profession of Australia in general, 
have taken several initiatives to show their commitment to the various sustainability 
principles. In this regard, several measures such as specific mandatory requirements under the 
Corporations Act relating to reporting of breach of environmental regulation were issued. As 
part of this initiative, the CPA Australia published research conducted by the RMIT school of 
accounting and law and relating to the assurance practices of the triple bottom line reporting 
in 2004, setting out the various disclosure requirements. Another initiative is the Greenhouse 
challenge, launched in 1995,

BUACC 2614 – Management Accounting 2 Semester 2, 2012 Group Assignment According to Martin and Steele (2010, p.13), “The two principal professional associations in Australia – CPA Australia (the CPA)...

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