PART A (50 marks) Body of the internal report
Assume that you are employed by a consumer watch group (CHOSEN) to assess sustainability performance of organisations. You have been assigned by your General Manager, Teresa Green, to assess Wesfarmers Limited. Wesfarmers Limited is an Australian conglomerate, headquartered in Perth, Western Australia, with interests predominantly in Australian and New Zealand retail, as well as in chemicals, fertilisers, coal mining and industrial and safety products.
The sustainability reports for 2014 and 2015 are accessible through the two links below
2014 report: http://www.wesresources.com.au/sustainability_report_2014/
2015 report: http://www.wesresources.com.au/sustainability_report_2015/
Requirement for Part A
Provide an internal report to Teresa so she can combine it with reports about other companies that she will present to the board of directors. In your internal report (under a section named "Wesfamers Comparison") assess and compare the 2014 sustainability report to the 2015 sustainability report in relation to the G4 GRI Guidelines. You should note areas of improved sustainability performance for the three aspects; economics, environmental and social (also considering the four (4) sub-categories of the social aspect) between the 2014 and the 2015 report. Try to think which of the guidelines would be most relevant to this business. Does the report contain targets? How detailed (well specified) are these targets?
You should also note (in the body of your report):
The self declared level of adherence and whether you agree that this is an appropriate description of the level. For justification of your choice please refer to the GRI G4 'in accordance' guidance.
Any guidelines followed in preparing the report (this should at least be GRI but may also include the standard AA1000AS or the UN Global Compact, or Industry Regulations/Guidelines)
Whether the report has been verified or not, and if so, who was the verifier (comment on the type of business e.g. Accountants/other specialist), and what is the scope of the assurance.
You will also need to download the G4 guidelines from the study desk, and other material you believe are helpful, free from the GRI website
(http://www.globalreporting.org).
The body of your review and analysis does not need to cover all aspects of disclosure, but should be a general assessment with reference to the GRI Reporting Principles and Standard Disclosures. You should use the GRI Guidelines themselves. The Guidelines give examples of tests for assessment (e.g., ability to compare year to year, use of benchmarks, etc).
A suggested layout is to use a table with the aspect of the report being assessed on the left e.g. completeness and your comments and conclusion on the right.
Comment on how "user-friendly" you found the report. Was it easy to find the parts of the report relevant to a particular guideline? Was the report well referenced? Did it give a balanced view (negative as well as positive aspects)?
The key is to cover the main points (for this type of business) and to present it in a professional manner (full report format is not required BUT presentation should be businesslike and neat and references are required). However, this is a general overview rather than a complete detailed review of all possible aspects (see Useful links below for more information). Stick to core disclosures plus additional ones that seem relevant for this type of business. Use the GRI index provided by the company as a starting point – but be critical. What have they not covered? Have they appropriately identified things (issues) as material?
PART B Company's Sustainability reports comparison written in two countries (30 marks)
Secondly, as an employee of a consumer watch group, you are asked to make a comparison on the sustainability reporting by Fuji Xerox Australia Pty Limited. You note that Fuji Xerox Australia Pty Limited sustainability did release a 2014 report available on the websites http://Www.Fxasustainability.Com.Au/2014/ but not a 2015 report. You find that the 2015 sustainability report was produced by Fuji Xerox Head Office in Japan.
(available on https://www.fujixerox.com/eng/company/sr/2015/booklet.html).
You notice some differences in the guidelines used for reporting and disclosure in its Japan 2015 sustainability report compared to the 2014 report produced in Australia.
Requirement for Part B
Provide in your internal report the following information under a separate section named "Fuji Xerox comparison"
1. What different guidelines were used in the 2015 report compared to the 2014 report?
2. What factors would cause the different influences in these reports produced in Australia (2014) and Japan (2015)?
3. Assess and compare the 2014 sustainability report to the 2015 sustainability report in relation to the G4 GRI Guidelines.
PART C Professional Writing style, Conclusions, and Recommendations (10 marks)
You are required to develop separate conclusions based solely on your analysis under (1) Part A for Wesfamers and (2) Part B for Fuji Xerox. Your recommendations you formulate must be then based on your conclusions (that is, no new discussion or analysis can be introduced into either your conclusions or your recommendations).
Your report writing, sentence structure, and grammar must be prepared in a highly professional manner and format.
PART D Reflective journal of personal development (10 marks)
Your reflective personal journal should be completed separately to the internal report BUT in the same Word document under the heading "PART D Reflective journal of personal development". Your writing should reflect on how your personal development has been aided by your completion of the two assessment tasks.
An example of a reflective journal will be provided on the ACC8801 study desk.
When completing your reflection journal on personal development, you should consider what you have learned by completing the various topics of the five (5) modules.
1. The concepts, essential principles, and stakeholders of corporate governance, ethical and moral obligations, and social responsibility;
2. Corporate governance in Australia and the impact on board and committee functions and structures and company officers' training, induction, and behaviour to protect the interests of diverse stakeholders in the corporation;
3. Principles of good corporate governance and corporate disclosure requirements;
4. The main theories and elements of Corporate social responsibility (CSR);
5. Current and future directions Sustainability accounting and integrated reporting of environmental, social, and governance (ESG).
You also should reflect on how you could apply these learning outcomes to your current employment situation or to a real world situation that you are likely to experience in the near future. Specific prompts to help you through your reflective journal are provided in the marking criteria at the end of this document.
LENGTH: For the internal report (Part A and Part B), there is a maximum word length of 4,000 words (i.e., 4,000 words or less) for this 1.5 spaced internal report email/memo assignment. For the Reflective personal journal (Part D) there is a maximum word length of 500 words
Most students should be able to cover the report writing and the reflective personal journal in 8-12 pages using Verdana 10 point font.
Your reference list or any appendices (if you believe such attachments are warranted) should be included in this word count and 8-12 pages.
Useful links
Information about report writing is provided on the USQ website at http://www.usq.edu.au/learningcentre/assignment-skills/writing-
assignments/report-writing This information includes sections that are included in a formal external report not an internal report. The letter of transmittal, Abbreviations and Glossary, Acknowledgements, and Introduction Sections are not required in an internal report.
The GRI Guidelines are available for free download from the GRI website:
https://www.globalreporting.org/reporting/reporting-framework- overview/Pages/default.aspx Wesfarmers:
http://www.wesresources.com.au/sustainability_report_2015/ http://www.wesresources.com.au/sustainability_report_2014/
http://sustainability.wesfarmers.com.au/our-approach/sustainability-at-wesfarmers/ Fuji Xerox:
http://www.fxasustainability.com.au/2015/ http://www.fxasustainability.com.au/2014/ http://www.fxasustainability.com.au/
Hofstede's six dimensions of societal values:
https://en.wikipedia.org/wiki/Hofstede%27s_cultural_dimensions_theory Hofstede's indices for the four societal values for each country:
http://www.clearlycultural.com/geert-hofstede-cultural-dimensions/individualism/
Gray's Towards a Theory of Cultural Influence on Accounting Systems:
http://www.acis.pamplin.vt.edu/faculty/tegarden/5034/handouts/Gray-Abacus1988.pdf
How to write an internal report
http://shelternetbc.com/wp-content/uploads/2012/08/Informal-Report-Writing.pdf http://policy.usq.edu.au/documents.php?id=13703PL
The required format is different to a formal report example available at the link (i.e., do not use the format below because it is a formal external report not an internal informal report) http://www.usq.edu.au/learningcentre/assignment-skills/writingassignments/report-writing
Submission Details:
The report will relate primarily to material covered in Module 4 and 5 and the reflective personal journal will relate to material covered for modules 1, 2, 3, 4, and 5, while assessing learning outcomes 1, 2, 3, and 4 identified below.
Submission is via studydesk.
1. Electronic submission via link "Assignment 2 submission" on the study desk
2. YOU MUST use your name and student number in your assignment file as follows: YOUR NAME_student number_assig2
3. A cover note is not required.
Part A 50 Marks
Sustainability reporting and disclosure analysis comparisons between the two sustainability reports and G4 GRI Guidelines should:
1. Demonstrate mastery of theoretical knowledge of the corporate governance and social responsibility issues involved in business decision making 15 marks
4. Apply and integrate the sustainability accounting reporting principles and practices (including the Global Reporting Initiative) into the development of Sustainability reporting and integrated reporting known as environmental, social, and governance (ESG) reporting. 35 marks
Part B 30 Marks
Influence of Societal Values on sustainability reporting and disclosure analysis comparisons between the two sustainability reports and G4 GRI Guidelines in two countries should:
1. Demonstrate mastery of theoretical knowledge of the corporate governance and social responsibility issues involved in business decision making 15 marks
4. Apply and integrate the sustainability accounting reporting principles and practices (including the Global Reporting Initiative) into the development of Sustainability reporting and integrated reporting known as environmental, social, and governance (ESG) reporting. 15 marks
Part C 10 Marks
Demonstrate the capacity for written communication using the appropriate internal reporting format and structure that provides an highly professional presentation that reflects the following:
Communication: The able to justify and communicate sustainability reporting accounting advice to accountants and non-accountants (should be free of accounting-based jargon) 3 marks
Presentation: Write a professional-style report, with appropriate headings, font, format, title page, table of contents, appropriate word choice, grammar, spelling, length and use of figures/tables/charts. 3 marks
Consistent referencing style should be used throughout the report. The reference list should include only references used in the report body. 2 marks
Conclusions developed solely on your analysis under Part A and Part B 1.5 marks
Recommendations formulated and based on conclusions 1.5 marks
Reflective Journal of personal development 10 Marks
Content Reflective thinking that demonstrates the development an
understanding about the following issues as well as how you may use the knowledge and skills in your role as an accountant or manager Possible Marks
a) A reflective (not descriptive) discussion about what (prior to studying this course) you knew, or believed, about the nature and significance of the topic corporate governance, ethical and moral obligations, and social responsibility concepts and essential principles, AND the topic's relevance to your knowledge in your career as an accountant or manager. 2
b) A reflective (not descriptive) discussion demonstrating how you have developed knowledge about the nature and significance of the particular topics about the impact on board and committee functions and structures and company officers' training, induction, and behaviour to protect the interests of diverse stakeholders AND the topic's relevance to your knowledge in your career as an accountant or manager. 2
c) A reflective (not descriptive) discussion about what (prior to studying this course) you knew, or believed, about how to use the ASX principles of good corporate governance and corporate disclosure requirements; AND the topic's relevance to your knowledge in your career as an accountant or manager. 2
d) A reflective (not descriptive) discussion demonstrating how you have developed knowledge about how using main theories and elements of Corporate social responsibility (CSR) AND the topic's relevance to your knowledge in your career as an accountant or manager. 2
e) A reflective (not descriptive) discussion demonstrating how completion of the assessment task required the use of Sustainability accounting and integrated reporting of environmental, social, and governance (ESG). AND the topic's relevance to your knowledge in your career as an accountant or manager. 2
Total mark out of 10