Corporate Social Responsiblity & IFRS: Critically review the developments that have occurred in both international financial reporting and CSR in order to protect investors and markets

Context: For the last decade, and more, regulators have sought to strengthen the financial reporting framework and create internationally accepted financial standards. Running alongside the development of the financial reporting framework has been the recognition of the importance of Corporate Social Responsibility (CSR). After every large company collapse there is normally an investigation as to the causes of the failure. Reports on large company failures such as, Enron (USA) 2001, Lehman 4 Brothers (USA) 2008 and Carillion plc (UK) 2018 have consistently shown failures in either their reporting standards or their CSR or both. Required: Critically review the developments that have occurred in both international financial reporting and CSR in order to protect investors and markets from corporate failure. In addition, suggest ways in which both financial reporting and CSR can be improved upon in the real world in the context of protecting investors.

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