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2.13     Outline some ways that accountants could contribute to the sustainability efforts of organisations.

Reporting Accountants past papers are well versed in the application of standards for reporting. Their skills in this area can be applied to the reporting of a firm’s sustainability performance. Their systems could also be modified to incorporate environmental and social information. This could be used for both external and internal reporting past papers purposes.

Comparison of two competing investment projects would require an analysis of economic profits, so to do decisions relating to social and environmental initiatives. For example, a development may require land to be brought back to its original condition, a decision as to what tyres to purchase given the costs and impacts on company maintained roads, or the cost of implementing energy efficient devices compared to the energy consumption costs.

Audit and assurance services past papers:

The concept, process and practice of audit and assurance services are familiar ground for accountants. This makes them ideal candidates to help provide audit and assurance on the corporate social responsibility reports purchase test banks that are issued by organisations.

2.14     What are the four key responsibilities of business? Do you think an entity should consider discretionary responsibilities? Why or why not?

According to Carroll, there are four key responsibilities of business which are economic, legal, ethical and discretionary. Organisations have an economic responsibility to provide goods and services at a fair price, to repay their creditors and to seek a reasonable return for their shareholders. Legally, they are required to uphold the laws of government and are ethically responsible to act the way society would expect. Discretionary responsibilities are carried out voluntarily. For instance, there may be no laws relating to the maximum volume of effluent discharge, but a companypurchase test banks may choose to monitor and limit its discharge because society expects it to. It is an ethical responsibility. However, the firm may also choose to change equipment and processes so that there is no discharge at all and this would be classed as a discretionary responsibility. Over time, discretionary responsibilities may become ethical responsibilities or even legal responsibilities. If organisations don’t address their pollution problems then the government will step in and regulate it.

Whether or not you feel that firms should consider discretionary responsibilities depends on your view as to the objective of a firm. As discussed in the chapter, some believe that a firm only has a duty to its shareholders, while others believe that a firm has a wider responsibility to all stakeholders. Some reasons put forward why firms consider social and environmental issues are:

·   economically in their best interest (has a benefit to the bottom line profit)

·   to minimise government interference

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·   genuinely want to do the right thing.

So, depending on what you believe will determine whether or not a firm has a responsibility to consider discretionary responsibilities.

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