Corporate Reporting

Question: Corporate environmental disclosure has garnered attention globally in recent years across multiple stakeholders groups including businesses, investors, watch groups and legislative branches of governments etc. for its far-reaching social and economic implications. It has become a major challenge for business organizations to address and deal with environmental issues. (Farooque Ahulu, 2015). Critically discuss the above statement by outlining some advantages for Corporate Environmental Disclosure (CED) and challenges for reporting entities with regards to CED. Do Australian companies provide higher levels of environmental performance disclosure within their annual reports? Answer: Corporations have a huge impact on the environment at all scale from international to local forums. It is necessary to have information on corporate sustainability policies required to comply with international and national standards of environmental protection. However, in many cases the corporate players have the ability to continue to act in secret (Higson, 2003). Countries need good data tools to address environmental issues and communicate the risk posed by corporations. Therefore corporate take up the following mantle to implement the rules: Develop public outreach programs to communicate information about the quality of air and water, besides the waste present in the environment. These programs would be developed by private corporations and publicly owned companies that recognize their responsibility for preventing pollution and emissions, plus about corporate ethics itself Provide environmental information in a re-usable and understandable format, which really explain to the people what the risks they are exposed. Data on emissions and waste from the corporate sector should be sent to the government, enabling the monitoring of the environment. This information should be published in the public interest, and never have confidential information of commercial type, since it is directly related to the environment and public health. Environmental issues are such as emission of gases by the green houses and the pollution of the environment (DiPiazza and Eccles, 2002).Disclosure of the achievements of companies: Be it companies for packaging more sustainable can be a strategic tool if achieved adequately communicate the environmental improvements made in packaging so that consumers and other agents of interest to assess the efforts made in the placing on the market of products packaged environmentally friendly. Governments support to member companies in the disclosure to the various agents of interest, achievements in environmental improvement of their packaging. It is intended to provide information to other companies, consumers and the different public administrations on the commitment of companies to the environment in improving the environmental performance of their packaging. Here are some of the actions: Are your packaging good ambassadors of your environmental commitment? where you will find suggestions and recommendations for responsibly communicate the environmental improvements that companies make on packaging. Participation in conferences and other forums of interest in inviting companies to tell their own experiences and achievements in eco-design. Publications prevention. Success stories eco-design of packaging, packaging practices guides, environmental improvements communication, information on the main results obtained by the GIS in prevention and recycling of containers, packaging and consumer (Crowther, 2012) .. Active presence on the network such as plant recycle and blue and yellow co... In the web environment you can find various information regarding the integrated management system and its operation, as well as in relation to the prevention of packaging waste, eco-design Australia companies Development and implementation of the international development trend, the various limitations of corporate behavior, environmental quality specification of products with international standards, which will certainly affect enterprises to participate in international competition. Environmental issues have gone beyond the borders, becoming a global problem. Australia enterprises to enter the market, the product must participate in international competition; it is bound to be pressures related to the environment. Thus, they appear less necessary and urgent study and application of environmental management. As interpreted by the Environmental Protection Agency US environmental accounting is divided into macro and micro levels: the macro level related to the accounts and reports related to financial accounting firms micro and presentation national reports. In the field of accounting to micro environmental level, the first to enter professional practice is the disclosure of environmental information companies, also known as environmental reports; the company produces a variety of activities in the environmental impact disclosure of information to the external community (Wu, 2013). Environmental information disclosure was first reported as a social responsibility as an integral part. Different organizations face different specific environments. However, for most organizations, the factors that create uncertainty are - Providers: When you think about providers, usually come to mind the firms providing materials and equipment. However, it also includes those who provide labor and financial inputs. Managers try to ensure a steady flow of supplies needed at the lowest possible price. Since these inputs involve uncertainties, managers often make great efforts to ensure that all of them will receive a reliable and steady flow. - Customers: the person who absorbs the production of organizations that exist to satisfy the needs (The Social Responsibility Research Network, 2013). Of course, some organizations face a substantially higher degree of uncertainty than others, in relation to consumers does do (egg, can change the taste) - Competitors: all organizations, up monopolies, have one or more competitors. Managers cannot afford to ignore the competition, but must keep an eye to be prepared to answer it. - Government: federal, provincial, and local government influence you as organizations cannot do. There are laws that have significant implications. Organizations spend a lot of time and money to comply with government regulations, but the effects of these go beyond time and money. Actually, they also reduce the administrative discussion by limiting the options available to managers. - Lobbying: managers must recognize the special interest groups that defend and try to influence the actions of organizations. As the y evolve social and political movements, so does the power of lobbyists. The general atmosphere: They must be considered: - Economic conditions: interest rates, inflation rates, changes in disposable income, rates the stock market and the stage in the overall business cycle is are some economic factors in the general environment that can affect administrative practices of an organization. - Political Conditions: include the overall stability of the countries where the organization and specific attitudes that have to the business sector operates government officials. - Social conditions: managers must adapt their management to the changing expectations of society within which operating practices. When changing the values, customs and tastes, managers have to change too. This applies to their offers as internal policies. - Global Conditions: globalization is one of the main factors affecting managers and organizations. - Technological Conditions: We live in an age of technologic al changes. For managers of all organizations, technological advances mean the ability to make better decisions more expeditiously form (The Social Responsibility Research Network, 2011). Valuation risk: The risk assessment is the identification and analysis of relevant risks to achieving the Control activities Control activities are the policies and procedures that help ensure that carried out the instructions of the management of the company. They help ensure that necessary measures are taken to control the risks associated with achieving the objectives of the company. There are control activities throughout the organization, at all levels and in all functions. Information and communication: should identify, collect, and communicate relevant information in the form and terms that allow each employee to fulfill their responsibilities. Computer systems produce reports containing operational, financial and compliance data standards allowing direct and control the business informati on properly. Monitoring: It must continuously monitor internal controls to ensure that the process works as planned. This is very important because as changing internal and external factors, suitable controls that were once effective and may no longer be appropriate and to give reasonable assurance management offered before (Suder, 2007).The absence or weakness of any of these components can cause the risks identified in the external environment and industry, have a high probability of occurrence with a significant impact on the financial statements. In addition, the company may have an inappropriate organizational structure, lower skills of its employees, the absence of advantages of its processes, no effective internal communication, and poor culture of its employees that may generate risks of fraud. References Barnhill, T. and Schumacher, L. (2011). Modeling correlated systemic liquidity and solvency risks in a financial environment with incomplete information. [Washington, D.C.]: International Monetary Fund. Corporate reporting. (2009). Institute of Chartered Accountants in England and Wales. Crowther, D. (2012). A social critique of corporate reporting. Farnham, Surrey: Gower Pub. DiPiazza, S. and Eccles, R. (2002). Building public trust. New York: John Wiley Sons. GEO-5 for business. (2013). Nairobi: UNEP. Goerke, L. (2014). Income tax buyouts and income tax evasion. International Tax and Public Finance, 22(1), pp.120-143.