Tag (SQ): Corporate Social Responsibility
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- 20 Marks
BCL – L1 – Q107 – Human Rights
Can Kwame Asante sue for discrimination after being denied a job reserved for disabled persons?
Question
(a). With reference to the Constitution of the Republic of Ghana, 1992, can Kwame Asante bring any action against your company?
(b). On the day of his appointment, one of the persons with a disability who had applied for the position asked for the duties of the employer towards the disabled worker under the Labour Act, 2003 (Act 651).
(c). Management has also asked you to describe what benefits they can get out of employing persons with disability under the Labour Act, 2003 (Act 651).
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SCS – L3 – Q39 – Ethics and social responsibility
Identify ethical principles breached in a scenario involving a takeover and confidentiality request.
Question
(a) You have been recently employed as a Finance Manager of a large manufacturing company. At its first management meeting, the Director of Finance presented information on management’s intention to takeover one of the company’s key suppliers. An old school friend of yours works as an accountant for the targeted company. The Finance Director knows and has asked you to try and find out anything that might help the takeover, but it must remain confidential.
Required:
Identify and explain THREE fundamental ethical principles that could be breached in the above scenario. (b) Corporate social responsibility (CSR) requires that organizations give back to the society by way of investing part of their profits in socio-economic activities of their host communities. Companies adopt different strategies to realizing their CSR obligations to the host communities.
Required:
Identify and explain FOUR strategies for managing Corporate Social Responsibility in organizations.
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SCS – L3 – Q31 – Ethics and social responsibility
Explain the CSR stances of enlightened self-interest and multiple stakeholder obligations for Zamtel Communications Ltd.
Question
(a) Different organizations take different stance on corporate social responsibility (CSR), which will be reflected in how they manage such responsibilities. The stance taken normally reflects the extent of inclusion of stakeholders’ interests.
Required:
Explain each of the following CSR stance:
(i) Enlightened self-interest.
(ii) Multiple stakeholder obligation.
(b) Zamtel Communications Ltd is a recently listed local company that is in the process of reorganizing its corporate governance structure to reflect its status as a public company. At the first board meeting after the listing, the board chairman raised the issue of setting up of sub-committees of the Board. The Board agreed to start with two sub committees which are Remuneration Committee and Audit Committee. The board chairman is unsure how the remuneration committee of the board should be composed, its functions and other related matters. As a corporate governance consultant, the board chairman has written to you for advice on various issues regarding the remuneration committee.
Required:
Write a report to the board chairman advising him of the following:
(i) The composition of the Remuneration Committee.
(ii) THREE functions of Remuneration Committee.
(iii) THREE factors to be considered in the remuneration of executive and non-executive directors.
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SCS – L3 – Q24 – Ethics and social responsibility
Discuss limits of CSR, safeguards for litigation threats to accountants, and strategic importance of HRM in employee development.
Question
(a) Corporate Social Responsibility represents a company’s voluntary commitment to address the ethical, social and environmental factors associated with its operations. Despite its potential for furthering social needs, there are cogent arguments against Corporate Social Responsibility and may come under severe pressure in terms of its financing.
Required:
Discuss FOUR limits of Corporate Social Responsibility.
(b) Professional accountants face many threats in the performance of their duties that may negatively affect accountants’ objectivity and independence. One of such threats is intimidation threat which may arise from close business relationships, family and personal relationships, and assurance staff members moving to employment with client as well as actual and threatened litigation.
Required:
Explain FOUR safeguards you will consider to deal with actual and threatened litigation as a professional accountant.
(c) Human Resource Management play an essential role in employee development activities. Employee development activities refer to initiatives taken by organization and employees to enhance their skills with time and keep themselves acquainted with the latest developments.
Required:
Explain TWO strategic importance of Human Resource Management and employee development.
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SCS – L3 – Q18 – Ethics and social responsibility
Identify and discuss the CSR stances of four companies based on their CEOs' statements at a social responsibility event.
Question
The following statements were made by the chief executive officers of four companies about the corporate social responsibility stance of their respective companies, in Harmonyville, at a ball to honor companies that were socially responsible in the just ended year.
(i) “Bright Future Ltd has invested heavily in digital communities in villages of Harmonyville to create new market opportunities and promote community economic development. On the business side of the deal, Bright Future has partnered with local business leaders, community groups, and NGOs to create web-based services for education, healthcare, and agriculture needs of the people. Bright Future Ltd has created an executive level corporate citizenship committee and several tiers of multi-functional committees to support citizenship in the company’s lines of business.”
(ii) “Core Profit Ltd primary social responsibility is to assure our shareholders of the short-term financial success of the company. Expecting us to exercise social duties beyond this can undermine the authority of government. As a company we have met all government regulations concerning society and nothing more is expected of us.”
(iii) “GreenPath Ltd is increasingly moving from simply complying with environmental laws to taking more practical actions to winning the public’s trust through interactions and dialogue with other stakeholders. The company recognizes the fact that engaging and addressing concerns of other stakeholders will result in long-term financial benefit to the shareholders. We are aware that company’s operations sometimes affect society negatively and we take steps to promptly address issues stakeholders bring to our attention. This is currently enhancing our reputation.”
(iv) “Unity Corp Ltd has come to accept the legitimacy of the expectations of stakeholders other than shareholders and we have built their expectations into our organization’s stated vision, mission and strategic direction. We recognize that without appropriate relationships with groups such as suppliers, customers, employees, government and society at large, Unity Corp Ltd will not be able to function. As a company, our long-term survival depends on protecting our environment and promoting social equity as well as economic or financial performance.”
Required:
Identify and discuss the corporate social responsibility stance each company is as stated by their respective CEOs. (b)
Establishment of internal audit function plays a crucial role in effective corporate governance system. Internal audit function exists to perform a number of activities including review of the accounting and internal control systems, identification of significant business and financial risks, performance of value-for-money audits and safeguarding company’s assets. External auditors may from time to time rely on the work of internal audit function in forming audit opinion. However, in doing so external auditors would have to assess the work of internal audit they want to place reliance on.
Required:
Discuss FOUR criteria that will determine the extent of reliance to be placed on the work of internal audit work by external auditors.
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SCS – L3 – Q12- Ethics and social responsibility
Make a case for CSR to help Petrostar Ltd. formulate an appropriate CSR strategy.
Question
You have recently been appointed head of corporate affairs of PetroStar Ltd., a reputable company that operates in the upstream sector of the petroleum industry in West Africa. In a recent management meeting, a disagreement arose among executives regarding the nature of the company’s philosophy and strategy towards social responsibility. In order to resolve the disagreement, you have been asked by the company’s board of directors to submit a position paper that will enable it to formulate an appropriate corporate social responsibility strategy for the company.
Required:
(a) In a brief report to the board, make a clear case for Corporate Social Responsibility (CSR) to help your company’s board formulate an appropriate CSR strategy.
(b) Explain TWO strategies your company could adopt for managing its social responsibility.
You recently qualified as a professional accountant and received promotion in your company. One of your key responsibilities is to prepare management accounts to facilitate management decision making. You require important sales information from the sales department to incorporate into the final figures. Unfortunately, due to staff sickness and other inefficiencies, the sales report for the month has been delayed. Thus, you will not receive the information until few hours before the accounts are due for presentation to the Chief Finance Officer.
In a related situation, while on lunch break, you overheard the marketing manager asking another employee in the finance department to advise her on some investment decisions she has to make. She has recently inherited a considerable sum of money and would like your colleague to calculate her inheritance tax as well as capital gains tax liabilities.
Required:
(c) Identify the fundamental ethical principle(s) that could be in breach and justify why they may constitute a breach.
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- Tags: Corporate Social Responsibility, CSR, Ethics, Stakeholder Expectations, Sustainability
- Level: Level 3
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