Reference no: EM132794767

Question: Identify and critically review, firstly, the arguments for harmonising international accounting standards and, secondly, the case for and against harmonising CSR reporting.

Over recent years regulators have sought to strengthen the financial reporting framework and create internationally accepted standards. As a consequence of this move by regulators, users of financial information now have more confidence in the way financial data is produced now that a common reporting system is being used.

Alongside the development in financial reporting regulation there has been a move to develop and increase the amount of Corporate Social Responsibility (CSR) that is reported. Increasingly the ways companies engage in CSR is being used by investors to determine their investment strategies. However, many firms such as retailers worry that too much focus on CSR is not good because they may not able to control all firms along their supply chain and get them all to agree to at least minimum standards.

READ THE FOLLOWING ARTICLES AND USE THEIR WORK WHILE WRITING BY GIVING THEM CREDIT IN THE REFERENCE VIA HARVARD REFERENCING STYLE

1) Banerjee, S.B. ‘Corporate social responsibility: the good, the bad and the ugly',Critical Sociology 34(1) 2008, pp.51-79.

2) Scherer, A.G. and G. Palazzo ‘The new political role of business in a globalisedworld: a review of a new perspective on CSR and its implications for the firm,governance, and democracy', Journal of Management Studies 48(4) 2011,pp.899-931.

3) Scherer, A.G., G. Palazzo, and D. Seidl ‘Managing legitimacy in complex andheterogeneous environments: sustainable development in a globalised world',Journal of Management Studies, 50(2) 2013, pp.259-84.

4) Gilbert, D.U., A. Rasche and S. Waddock ‘Accountability in a global economy:the emergence of international accountability standards', Business EthicsQuarterly 21(01) 2011, pp.23-44.

5) Voegtlin, C. and A.G. Scherer ‘Responsible innovation and the innovation ofresponsibility: governing sustainable development in a globalised world',Journal of Business Ethics 01 August 2015, pp.1-17

6) Gimenez, C. and V. Sierra ‘Sustainable supply chains: governance mechanismsto greening suppliers', Journal of Business Ethics 116(1) 2013, pp.189-203.

7) Dowling, G.R. ‘The curious case of corporate tax avoidance: is it socially irresponsible?', Journal of Business Ethics 124(1) 2014, 173-184.

8) Sikka, P. ‘Smoke and mirrors: corporate social responsibility and tax avoidance', Accounting Forum 34(3) 2010, pp.153-168.

9) Barlev, B. and J.R. Haddad ‘Harmonization, comparability, and fair valueaccounting', Journal of Accounting, Auditing & Finance 22(3) 2007, pp.493-509.

10) •Eaton, S.B. ‘Crisis and the consolidation of international accounting standards:Enron, the IASB, and America', Business and Politics, 7(3) 2005.

11) •Tarca, A. ‘The case for global accounting standards: arguments and evidence',Report to the Trustees of the IFRS Foundation, 22 October 2012.

12) •Tweedie, D. and T.R. Seidenstein (2004). ‘Setting a global standard: the case for accounting convergence', Northwestern Journal of International Law and Business25(3) 589

13) Leuz, C. ‘Different approaches to corporate reporting regulation: how jurisdictions differ and why', Accounting and Business Research 40(3) 2010, pp.229-56.
14) Zeff, S.A. ‘Some obstacles to global financial reporting comparability and convergence at a high level of quality', The British Accounting Review 39(4) 2007, pp.290-302.
15) Zeff, S.A. ‘The evolution of the IASC into the IASB, and the challenges it faces', The Accounting Review 87(3) 2012, pp.807-37.

16) Arnold, P.J. ‘The political economy of financial harmonization: the East Asian financial crisis and the rise of international accounting standards', Accounting, Organizations and Society 37(6) 2012, pp.361-81.
17) Lehman, G. ‘A critical perspective on the harmonisation of accounting in a globalising world', Critical Perspectives on Accounting 16(7), 2005, pp.975-92.

18) Whittington, G. ‘Harmonisation or discord? The critical role of the IASB conceptual framework review', Journal of Accounting and Public Policy 27(6) 2008, pp.495-502.

Attachment:- CSR reporting.rar