What is meant by the term "social reporting"?
A)Social reporting is where firms conduct independent audits of their social performance
B)Social reporting is where firms act as issue advocates
C)Social reporting is where firms acknowledge and rectify any ethical or environmental misdemeanours
D)Social reporting is where firms conduct market research on latest consumer trends

Question

Quizplus · Accepted Answer

Social reporting is typically understood as a practice where firms report on their social and environmental performance to stakeholders. This can include conducting independent audits of social and environmental impacts, as well as disclosing information on practices related to issues like labor standards, human rights, and sustainability.

B, C, and D are not accurate definitions of social reporting. While issue advocacy, ethical/environmental rectification, and market research can be important aspects of a firm's social responsibility, they do not capture the specific practice of social reporting as commonly understood.

What Is Meant by the Term "Social Reporting