3. CORPORATE GOVERNANCE:
Corporate governance is the system by which companies
are directed and controlled. Boards of directors are
responsible for the governance of their companies.
4. REPUTATIONAL RISK:
Reputational risk is the
damage that can occur to a
business when it fails to meet
the expectations of its
stakeholders and is thus
negatively perceived. It can
affect any business, regardless
of size or industry.
5.
6. ETHICS:
Ethics is a system of moral principles. They affect how
people make decisions and lead their lives. Ethics is
concerned with what is good for individuals and society
7. a code of ethics sets forth values, ethical principles, and
ethical standards to which professionals aspire and by
which their actions can be judged
A code of ethics sets out an organization's ethical
guidelines and best practices to follow for honesty,
integrity, and professionalism.
CODES OF ETHICS:
8. IMPORTANCE OF CODE OF ETHICS:
It provides a common set of
rules or standards for all in the
profession to adhere
to. It defines best practices for
the profession. It provides a
basis to meet compliance
requirements for the profession.
It provides a legal standard for
the profession
10. Integrity.
A professional accountant should be straightforward and honest in
all professional and business relationships
Objectivity.
A professional accountant should not allow bias, conflict of
interest or undue influence of others.
Professional Competence and Due Care.
A professional accountant should act diligently and in accordance
with applicable technical and professional standards when
providing professional services.
11. CONFIDENTIALITY:
A professional accountant should respect the confidentiality of
information acquired.
PROFESSIONAL BEHAVIOUR:
A professional accountant should comply with the relevant laws
and regulations and should avoid any action that discredits the
profession
13. FOUR TYPES OF CSR
ENVIORNM
ENTAL
RESPONCIBI
LITY
ECONOMIC
RESPONCIBILITY
HUMAN
RIGHTS
RESPONSIBILITY
PHILANTHROPIC
RESPONSIBILITY
14. Environmental responsibility
initiatives aim to reduce
pollution and greenhouse
gas emissions and the
sustainable use of natural
resources.
Human rights responsibility
initiatives involve providing
fair labor practices (e.g.,
equal pay for equal work)
and fair trade practices,
and disavowing child labor.
15.
16. Corporate social responsibility is a business model
by which companies make a concerted effort to
operate in ways that enhance rather than degrade
society and the environment.
CSR helps both improve various aspects of society
as well as promote a positive brand image of
companies.
CSR POLICY
17. Business/ Corporation Benefits of CSR.
1. Stronger brand image,
recognition, and
reputation.
CSR adds value to firms by
establishing and maintaining a
good corporate reputation
and/or brand equity.
2. Increased customer
loyalty and sales.
Customers of a firm that practices
CSR feel that they are helping the
firm support good causes.
18. 3. Operational cost savings.
Investing in operational efficiencies
results in operational cost savings as
well as reduced environmental
impact
4. Retaining key and talented
employees.
Employees often stay longer and
are more committed to their firm
knowing that they are working for
a business that practices CSR.
19. 5. Easier access to funding.
• Many investors are more willing
to support a business that
practices CSR.
6. Reduced regulatory burden.
• Strong relationships with
regulatory bodies can help to
reduce a firm’s regulatory
burden.
20. EXAMPLE
OF CSR IN
PAKISTAN.
There are several other CSR activities
in Pakistan in which.
• PTCL engages actively.
• Medical services for employees,
• Blood donation drives,
• and post-retirement beneficial
schemes.
21. BENCH MARKING
•Benchmarking is a process of measuring the
performance of a company's products, services, or
processes against those of another business considered
to be the best in the industry, “best in class.” The point
of benchmarking is to identify internal opportunities
for improvement.
22. BENCH MARKING IN CSR
• it can enhance the transparency.
• Through benchmarking, companies are given a
mark for their actions and achievements, which
enables stakeholders to judge how responsible a
specific company is.
25. BENEFITS OF SUSTAINABILITY
REPORTING
1) Provide information for stakeholders.
2) Help build a reputation.
3) To represent the company in managing risk.
4) As stimulation of thought and leadership performance.
5) Develop and facilitate the implementation of a better management
system in managing environmental, economic and social impacts.
26. •Describe directly the ability and readiness of the
company to meet the wishes of shareholders.
• Build shareholder ownership.
• building consumer confidence,
•increased innovation, and
•even improvement of risk management.
