ABSTRACT

The state of the world’s environment and the effect of mankind on the ecology of the world at large have led to the increased public concern and scrutiny of the operations and performances of companies. Companies are now expected to be able to demonstrate that they are aware and addressing the impact of their operations on the environment and society in general. The rapid growth in business activities has brought the need for companies to disclose their’ environmental and social activities in the annual report and accounts under corporate social responsibility. In this regards, businesses are expected to take into cognizance a wide array of social interests and expenditure on environmental activities. At no time in, at least the last 20 years has matters relating to an organization interaction with the society being so widely accepted as centrál, even both crucial to the future wellbeing of both the business and those who are affected by it. Whether for moral, economic, legal or pragmatic reasons, every organization has to make an increasingly explicit assessment of its sociál impact and to attempt to reposition itself as the terms of social contract between business and society  under increasing scrutiny. By redefining success in terms of sociál impact, social accounting can strengthen the business case for investment in social ventures (Auka ,2006). In the light of increasing deleterious effects of environmental pollution, great importance is attached not only to the financial aspects (profitability) of companies but also to its environmental and social impact. The understanding of Corporate Social Responsibility (CSR) and its wide coverage made it easier to emphasize on responsibility towards the company’s employees, local community, society and the future generation, Malgorzata & Agnieszka (2013).