In order to know whether or not the corporate social responsibility (CSR) initiative and its related commitments are actually improving the company’s performance, it is necessary to have in place procedures for reporting and verification, each of which are important tools for measuring change and communicating those changes to the company’s stakeholders. Hohnen and Potts described reporting as “communicating with stakeholders about a firm’s economic, environmental and social management and performance” and verification, which is often referred to as “assurance,” as a form of measurement that involves on-site inspections and review of management systems to determine levels of conformity to particular criteria set out in ...
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