Business Sustainability Performance Reporting and Assurance

This chapter presents corporate reporting consisting of both financial economic sustainability performance (ESP) and nonfinancial governance, social, ethical and environmental (GSEE) sustainability performance reporting and assurance. Corporate reporting in this chapter is referred to as sustainability performance reporting, corporate social responsibility (CSR), or multiple‐bottom‐line (MBL) reporting, and reflects the role of corporations in society and disclosure of their accountability to all stakeholders. Voluntary sustainability reports usually include any disclosures outside of financial statements that are not mandated by regulators and standard‐setters. Assurance providers play an important role in providing assurance on sustainability reports reflecting all five economic, governance, social, ethical and environmental (EGSEE) dimensions of sustainability performance. With the development of CSR and CSR reporting practices, more Asian firms provide CSR reporting assurance to increase the credibility of their CSR reports. Sustainability reports cover all areas of economic viability, ethical culture, corporate governance, social responsibility and environmental awareness.