Perceived Significance of Corporate Social Reporting

Abstract

Business has not only to protect the interests of shareholders, employees and consumers but also society at large as a wise custodian of the latter’s resources. As social and environmental issues become increasingly important, investors and other stakeholders will want to see that companies are appropriately managing their environmental and social risks. Social reporting is needed because society has certain right to information. Companies must perform social activities and also report such activities, so that society can judge their overall performance. This study seeks to find out the significance of social responsibility information as perceived by preparers, attestors and users of such information.  The result of  the  study shows that out of the overall six areas of social concern environmental contribution has been ranked first followed by energy conservation and human resources. Community involvement has been ranked the last and sixth among the different areas of social concern.