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A new chief audit executive wants to develop a formal internal control framework for her organization. She uses globally accepted frameworks as a guide. Which of the following would she likely find critical in creating the new framework for her organization?
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Question 758 - IIA-CIA-Part1 discussion

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Which of the following is a true statement regarding environmental, social, and governance (ESG) and corporate social responsibility (CSR)?

A.

Sustainability disclosure is evolving around the world.

Answers
A.

Sustainability disclosure is evolving around the world.

B.

Having a CSR program also means decreased revenue and increased costs.

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B.

Having a CSR program also means decreased revenue and increased costs.

C.

Organizations with ESG programs have lower performance due to the necessity to focus on sustainability as well.

Answers
C.

Organizations with ESG programs have lower performance due to the necessity to focus on sustainability as well.

D.

Sustainability reporting focuses solely on the environmental and social performance of an organization's activities.

Answers
D.

Sustainability reporting focuses solely on the environmental and social performance of an organization's activities.

Suggested answer: A

Explanation:

ESG and CSR are both related to how a company manages its impact on society and the environment, but they are not the same. CSR is a voluntary business model that reflects a company's commitment to positive social and environmental outcomes.ESG is a set of criteria that investors use to measure and evaluate a company's sustainability practices and performance2.Sustainability disclosure is the process of reporting on the ESG and CSR aspects of a company's activities to the stakeholders, such as the board, senior management, regulators, customers, and the public3.Sustainability disclosure is evolving around the world, as more companies adopt ESG and CSR frameworks and standards, and more stakeholders demand greater transparency and accountability on sustainability issues4.

1: 3 paradigm shifts in corporate sustainability to new era of ESG2: What is the difference between CSR and ESG?3: Environment, Social and Governance (ESG)4: ESG vs. CSR: Key Differences & What Businesses Need to Know

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asked 03/11/2024
Alex Ng
41 questions
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