Current State of Sustainability Reporting:
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Date
2020-04-30
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
EJBMR, European Journal of Business and Management Research
Abstract
Corporate sustainability reporting, also known as
Triple-bottom-line reporting, involves reporting nonfinancial
and financial information to a broader set of stakeholders than
just shareholders and seek to fortify an organization’s ability
to manage key risks. The current case is that, the quality, rigor,
and utility of sustainability reporting remains contentious with
concerns about the suitability of the criteria or standards used
to prepare the reports. Despite the rapid increase in the
number of companies around the world adopting Global
Reporting Initiative standards, little is known about the extent
of practice of corporate sustainability reporting in public
universities in Kenya. The study selected five universities that
had their 2017-18 audited financial reports available online for
the readers, which served as the main source of secondary
data. The guidelines on corporate sustainability reporting was
derived from literature review, which provided key indicators
upon which the data from each university was evaluated. It
was observed that almost all the institutions recognize the
critical role of both internal and external independent audit of
financial statements. In conclusion, financial reporting
sustainability is guided by strict compliance to the factors of
sustainability.
Description
Keywords
—Corporate sustainability reporting, Environmental accounting and reporting, Public universities, Sustainability reporting, CSR