stakeholders’ perceptions towards sustainability reporting

Stakeholders’ Perceptions towards Sustainability Reporting Practices of Listed Manufacturing

Companies: Evidence from Bangladesh

Dr. Mohammed Fazlur Rahman Khan(Member of 24th BCS General Education Cadre)

Assistant Professor (Accounting)

Mymensingh Govt. College

Mymensingh, Bangladesh.

e-mail: [email protected]

Abstract

Sustainability Reporting has become increasingly relevant to the enterprise in ensuring environmental protection. Accordingly, target 12.6 of the SDG12 specifically advises to integrate sustainability information into the reporting cycle of companies. But, disclosure of sustainability information is largely depending on the expectations of stakeholders, because Sustainability Reporting is still unregulated in developing economies like Bangladesh. Therefore, recent Sustainability Reporting literature emphasizes the importance of exploring the perceptions of both managerial and non-managerial stakeholder groups regarding Sustainability disclosures. But, very few studies have been carried out that examined both managerial and non-managerial stakeholders’ views towards Sustainability Reporting practices in the context of developing countries. And so, the study aimed at exploring the perceptions of five selected managerial and non-managerial stakeholder groups regarding the various aspects of the reporting practices of the listed manufacturing companies in Bangladesh, by arranging a series of interviews with the help of a structured questionnaire. The study revealed that most of the selected stakeholders considered Sustainability Reporting as a significant tool for reducing environmentally hazardous activities of the companies. But stakeholder believed that external audit is essentially necessary for ensuring credibility of sustainability disclosures. Besides, maximum survey participants opined that Sustainability Reporting should be a mandatory task for the listed manufacturing companies in Bangladesh. The study included only 85 respondents from five stakeholder groups that were slightly different in sample sizes.

Keywords: Sustainability Reporting, Stakeholder, Stakeholders’ perceptions.

18 THE COST AND MANAGEMENTISSN 1817-5090, VOLUME-48, NUMBER-02, MARCH-APRIL 2020

1.Background of the Study On 1st January 2016 the world takeoff for an exclusive journey of universal development in the name of the Sustainable Development Goals (SDGs). The SDGs incorporated 17 Goals with 169 associated Targets that can be utilized to frame the national and international agenda to end poverty and tackle climate change by 2030 (Khan, 2016). According to the UN Conference on Trade and Development (UNCTAD), at the beginning stage of investment in SDG-relevant sectors, developing countries alone face an annual gap of $2.5 trillion. So it is clear that the SDGs will not be achieved without engaging businesses. Because, as a key stakeholder, business organizations have a vital role in the sustainable development process either negative or positive. Consequently, the SDGs clearly call on all businesses to measure and report their impacts on sustainable development (DSE, 2019). Sustainability reporting is an emerging significant tool in introducing social and environmental cost and other relevant Sustainability information of the organizations to their stakeholders which is necessary to identify the ways of reducing or avoiding such cost and hazards for achieving sustainable development (Gray et al., 1995). Accordingly, SR is specified in target 12.6 of the SDG 12 (Responsible consumption and production) which exactly advises to encourage companies, to integrate sustainability information into their reporting cycle in order to apply their creativity that improve business approach as well reducing their footprint and minimizing overall impacts. It can provide a broader view of a company’s performance than financial disclosure alone (DSE, 2019).

On the other hand, The Labor Force Survey 2018 revealed that only about 13% people of the Bangladeshi labor market are engaged in institutional work. And about 4.2% of the total workforce is unemployed. (BBS, 2018). Therefore, Bangladesh has been striving for employment-intensive industrialization since its independence. Consequently, with a view to accelerating the pace of industrialization in the country, the ‘Outline Perspective Plan of Bangladesh (2010-2021): Making Vision 2021 A Reality’ have also recognized the importance of manufacturing as vehicle of reducing unemployment. Hence, the growth in manufacturing sector stood at about 9 percent in FY 2016-2017 (GoB, 2018). But, Bangladesh has not been achieved sufficient structural industrial transformation,

and insufficient consideration has been given to the sustainable consumption and production (Nath, 2012). The consequence of largely unregulated industrial development has caused in many adverse sustainability effects in Bangladesh (Alam, 2009). The toxic discharges from manufacturing industries pollute both surface and ground water sources. Thus industrial development of Bangladesh is taking high toll on its natural resources (Ahmad, 2012). But it is not expected to have more corporate profit at the cost of sustainability. (Enahoro, 2009).

Since SR has the potentiality to enhance accountability of the corporate organizations regarding sustainable development, it is essential to realize the reasons of SR is, or is not evolving in developing countries like Bangladesh (Belal & Cooper, 2011). Therefore, within the last few decades SR has become a popular field of research around the world (Yaftian, 2011). But, most of the previous studies of SR were focused on developed countries and very few studies have been carried out in the context of developing countries like Bangladesh (Belal & Owen, 2007). However, SR studies in Bangladesh are mainly determined by the volume of disclosure that using secondary data (Imam, 2000). Moreover, disclosure of sustainability information in Bangladesh is still voluntary in nature. As a result, several scholars (Islam & Deegan, 2008) have called for more direct engagement-based studies in developing countries like Bangladesh by using primary data. Besides, latest literature emphasizes the importance of exploring the perceptions of both managerial and non-managerial stakeholder groups regarding SR. Some very recent studies concentrate on the perceptions of multiple stakeholder groups (Belal & Cooper, 2011).

But, so far researcher’s knowledge goes, there is little evidence of comprehensive recent study that examined the perceptions of both managerial and non-managerial stakeholders’ views regarding the significance of SR and credibility as well adequacy or inadequacy of existing regulatory frameworks of SR of the listed manufacturing companies in Bangladesh context. So, there is ample opportunity to carry out an inclusive research in this field. In addressing the gap in the existing literature, present study aimed at exploring the perceptions of 85 managerial and non-managerial stakeholders regarding various aspects of


SR practices of the listed manufacturing companies in Bangladesh.

2. Objectives of the StudyThe objective of the study is to explore the perceptions of the multiple stakeholder groups regarding the significance, credibility and regulatory frameworks of Sustainability Reporting practices of listed companies in Bangladesh context.

3. Literature Review Rudyanto and Siregar (2018) conducted a study on “The effect of stakeholder pressure and corporate governance on the sustainability report quality” in Indonesia by using multiple regression method. The study revealed that pressure from consumers and employee positively affects the quality of sustainability reports of the companies. But pressure from shareholders has no effect on the quality of sustainability report. Zhao (2011) conducted a study on environmental reporting practices in a Chinese context. The researcher used content analysis, questionnaire survey and in-depth interview methods for conducting the study. The study reveals that the regulatory requirements and other national and international corporate issues influence the SEAR practice in China. Haque (2011) conducted a comprehensive study on ‘Climate change related corporate governance disclosure practices in Australia’. Attempt has been made to evaluate the nature of the climate change related corporate governance disclosure practices of the companies and to know the perception of the stakeholders regarding the reporting and to investigate the reasons for the practices. In this study the researcher used content analysis method, in-depth interview and survey methods. The study identified some reasons for the low level of climate change related corporate disclosures practices of the Australian companies. Belal and Robrets (2010) conducted a study with the aim of exploring the perceptions of non-managerial stakeholders regarding corporate social reporting in the context of a developing country, Bangladesh. By the help of a series of semi-structured interviews the study reveals that CSR is evolving in Bangladesh as a response of pressures from international markets and

is producing largely cosmetic responses. Clarkson et al. (2008) had a study on Revisiting the relation between environmental performance and environmental disclosure: an empirical analysis and revealed that sustainability report is made to assist decision makers and stakeholders by translating ecological, economic and social data. However, decision makers and stakeholders have to make sure that the sustainability report made by corporation is transparent Diouf and Boiral (2017) conducted a study on ‘The quality of sustainability reports and impression management: A stakeholder perspective’ with the purpose of analyzing the perceptions of the quality of GRI reports held by stakeholders involved in the field of socially responsible investment (SRI)’. The study revealed that the perceptions of SRI practitioners shed more light on the elastic and uncertain application of the GRI principles in determining the quality of sustainability reports. Belal and Owen (2007) carried out a study in order to determine the views of Bangladeshi managers on the current state of, and future prospects for, social reporting in the country. This study utilizes a primary research method such as interviews to investigate disclosure practices within the context of a developing country like Bangladesh. The results of their study revealed that managers’ major motivation for social reporting practices lies in a desire on the part of corporate management to manage powerful stakeholder groups such as multinational companies. Islam (2009) conducted a broad based study on by using in-depth interview, Annual Report Content Analysis and survey methods. The study also uses the legitimacy theory, stakeholder theory and institutional theory. The study reveals that social responsibility initiative of BGMEA respond directly to the concerns of multinational buying companies and media have influence upon corporate social and environmental disclosure practices. The study also reveals that Global and local NGOs can positively use the media to effect change in the disclosure practices of the organizations. Yaftian (2011) examined CSR practices in corporate annual reports and needs of Iranian stakeholders regarding CSR information. The study used content analysis method. Questionnaires survey method was also used to investigate the CSR information needs of stakeholders. The study revealed that annual reports were perceived as the main source of CSR information, and stakeholders


believed that CSR disclosures were sufficient among the sample companies. Hossain et al. (2006) revealed that a very few companies in Bangladesh are making efforts to provide Sustainability information on a voluntary basis by using questionnaire survey and content analysis method. Teoh and Thong (1984) conducted a study based on interview questionnaire survey. The study reveals that social reporting lags behind corporate social involvement Assaduzzaman et al. (2014) conducted a study on “Corporate Environmental Reporting (CER) Practices: Empirical Evidence from Selected Non-financial Companies in Bangladesh”. The study investigated the perceptions of 40 senior accounts executives of sample companies regarding the environmental reporting practices of the listed companies in Bangladesh by using a structured questionnaire. Besides, the study used a convenience sampling process to collect primary data. The study showed that survey respondents felt strong need for environmental disclosure in the corporate annual reports.

The review of relevant literature revealed that over the past few decades a number of studies have been conducted on SR practices of the corporate organizations, majority of which have been done in the context of developed countries. But a small number of studies conducted in Bangladesh context. it is also revealed that recent SR literature emphasizes the importance of exploring the perceptions of both managerial and non-managerial stakeholder groups regarding SR. However, some studies concentrate on the perceptions of multiple stakeholder groups in this country, but there are few studies that examined non-managerial stakeholders’ perceptions of SR in Bangladesh context. As per author’s knowledge goes there is a handful studies that exploring the perceptions of multiple stakeholder groups regarding various aspects of SR of the listed manufacturing companies in Bangladesh context.

4.Research Methods4.1 Overview

The study approach is descriptive in nature, and primary data has been used in this study. The study employed questionnaire survey method in investigating the manifold perceptions of multiple stakeholder

groups regarding various aspects of SR practices of the listed manufacturing companies in Bangladesh.

4.2 Study Population

The population of this study comprises all the manufacturing companies of Cement, Tannery, Textiles and Pharmaceuticals industries which are listed on the Dhaka Stock Exchange (DSE). In addition, survey population of this research includes all the members of the key stakeholder groups of the listed manufacturing companies like Accounts Executives and Internal Auditors of sample companies, Because, their activities are closely related in preparing the financial reports of the companies. Besides, Professional Accountants (ACA/FCA) play an significant role in the verification of disclosures of listed companies, and Environmental Activists have an important role in improving the corporate environmental conditions, as well, Member of the Regulatory Bodies [top or mid-level officials of the Bangladesh Securities and Exchange Commission (BSEC), Ministry of Environment, Forest and Climate Change, the Bangladesh Bank (BB) and the National Board of Revenue (NBR)] have the influence in framing the disclosure rules in Bangladesh with which companies bound to comply. Consequently, these groups are also included in this study.

4.3 Sample Size and Sampling Techniques

Based on the purposive sampling method, five companies from each of the four selected industrial sectors (Cement, Tannery, Textiles and Pharmaceuticals) were included in this study. To achieve the advantage of an in-depth research, a total number of 85 respondents were taken from five selected stakeholder groups. Chief Financial Officer (CFO) or one Senior Accounts Executive and Head of Internal Audit or one Senior Executive (internal audit) from each of the sample companies, 20 professional accountants (ACA/FCA), 15 officials from different regulatory bodies including 2 Deputy Directors of the Directorate of Environment, 2 Deputy Secretary and one Joint Secretary of the Ministry of Environment, Forest and Climate Change, 3 Directors of the BSEC, 2 Joint Directors of Bangladesh Bank, 3 Deputy Commissioner of Taxes, one joint Commissioner of Taxes and one Additional Commissioner of Taxes of the NBR, and 10 Environmental Activists were taken into consideration. Respondents were selected on the basis of convenience of data collection.


Table: 4.1 Details of selected respondents

Strata

No.Category of Respondents

Company wise

respondents

Sample

respondents

1 Chief financial Officer (CFO)/ Senior Accounts Executive 1 20

2 Head of Internal Audit / Senior Executive (internal audit) 1 20

3

Member of the Regulatory Bodies

–15

Officials of Ministry of Environment Forest and Climate

Change (#)

Directorate of Environment (2)

BSEC (3)

Bangladesh Bank (2)

NBR (5)

4 External Auditors (ACA/FCA) - 20

5 Environmental Activists - 10

Total respondents 85

4.4 Primary Data Sources

4.4.1 Questionnaire

The present study used a structured questionnaire in exploring the perceptions of stakeholders regarding SR. The questionnaire was divided into two parts. The first part of the questionnaire contained eight demographic questions. The second part of the questionnaire proceeds with the questions on the Significance of SR practices in improving the sustainability performance of the companies. The questionnaire also included questions on the Credibility issue, needs of external audit of sustainability disclosures and sufficiency of existing Regulatory Frameworks for SR practices in Bangladesh. Most of the questions of the questionnaire were designed by using a five-point Likert Scale. and were close-ended.

4.4.2 Actual field Work and Administration of Survey Instruments

4.4.2.1 Interview Procedures

The primary data were collected through e-mail survey with a structured questionnaire. The interviews took place between mid-September, 2019 and mid-December, 2019.

4.4.3 Statistical Techniques of Analysis

Quantitative data were analyzed by using appropriate statistical techniques such as frequency, mean, standard deviation, percentage etc. through SPSS program (Version-15).

5. Data Analysis and Presentation The aim of this segment is to provide analysis on manifold perception of the survey respondents regarding SR practices of the listed manufacturing companies in Bangladesh.

5.1 Responses of the Stakeholders on Significance of SR

The purpose of this section is to introduce analysis on the perception of stakeholder regarding the significance of SR practices for listed manufacturing companies in Bangladesh in reducing their environmentally hazardous activities, as it relates to the items SQ-1 of the questionnaire. The survey respondents were requested to rank their perceptions on a 5-point Likert Scale with one representing strongly disagree and five representing strongly agree-


Table 5.1: Perceptions of Selected Stakeholder Groups Regarding the Significance of SR

Respondent Groups Descriptive Statistics

SQ-1

Mean std

Accounts Executives 4.15 1.01

Internal Auditors 4.05 .81

Professional Accountants (ACA/FCA) 3.95 .86

Member of the Regulatory Bodies 3.87 .61

Environmental Activists 4.90 .3

Total Respondents 4.06 .85

Source: Field survey, Note: std=Standard Deviation, SQ-1=Survey Questionnaire’s Item No-1,

Table 5.1 and Figure 5.1 provide analysis regarding the levels of perceptions of the respondents on significance of SR (item SQ-1 of the questionnaire). Figure 5.1 indicates that 71.47% of the total survey respondents either supported or strongly supported the concept that SR practice can play a significant role in reducing environmentally hazardous activities of the companies.

Figure 5.1: Percentage Distribution of Views of Respondents on the Role of SR in Reducing Environmentally Hazardous Activities of the Companies

Source: Field survey.

5.2 Responses of the Stakeholders on Credibility Issue and Needs of External Audit of Sustainability Disclosures

This section provides analysis with the intention of addressing the perception of stakeholders regarding credibility issue and needs of external audit of Sustainability disclosures of listed manufacturing companies as it associated to the items SQ-2 to SQ-4 in the questionnaire of our study. For the items SQ-2 and SQ-3 of the questionnaire, respondents were requested to rank their perceptions on a 5-point Likert Scale with one representing strongly disagree and five representing strongly agree-

Table 5.2: Perceptions of Stakeholder Groups Regarding the Credibility and Needs of External Audit of Sustainability Disclosures

Respondent Groups

Items of the questionnaire

SQ-2 SQ-3

Mean std Mean std

Accounts Executives 4 .89 4.49 .59

Internal Auditors 4.15 .85 4.35 .73

Professional Accountants (ACA/FCA) 4.8 .4 4.50 .76

Member of the Regulatory Bodies 4.07 .77 4.4 .49

Environmental Activists 4.8 .4 4.90 .30

All Respondents 4.32 .80 4.38 .70

Source: Field survey. Note: std =Standard Deviation, SQ-2=Survey Questionnaire’s Item No-2, SQ-3=Survey Questionnaire’s Item No-3.


Table 5.2 and Figure 5.2 provide the group comparison statistics regarding the credibility issue of sustainability disclosures of listed manufacturing companies.

Figure 5.2: Perceptions of Different Stakeholder Groups Regarding the Credibility of Sustainability Disclosures of the Listed Manufacturing Companies


Figure 5.2 indicates that Accounts Executives, Internal Auditor and Member of the Regulatory Bodies were agreed or strongly agreed with the concept with a percentage distribution score of 65%, 70% and 73% respectively, while, 80% respondents of Environmental Activists and External Auditors (ACA/FCA) groups were strongly agreed with the concept. Figure 5.2 also reveal that 81.60% of the entire survey respondents were either agreed or strongly agreed with the concept.

Figure 5.3: Perceptions of Different Stakeholder Groups Regarding the Needs of External Audit of Sustainability Disclosures of the Listed Manufacturing Companies


Figure 5.3 provides the group comparison results regarding the item SQ-3 of survey questionnaire, Figure 5.3 also reveals that 84.46% of the entire survey respondents were either agreed or strongly agreed with the concept. This result is further reflected in the mean and standard deviation values of 4.32 and 0.80 respectively (Table 5.2) These findings indicate that most of the respondents strongly believed that Sustainability disclosures of the listed manufacturing companies should be externally verified. In a similar study of Asaduzzaman et al. (2014) revealed that 90% of their interviewees were pronounced that there should be scope of external verification of environmental disclosures of Bangladeshi companies.

The respondents were then asked (item SQ-4 of the questionnaire) to choose one or more applicable auditors groups between the companies’ Financial Auditors and specialist Environmental Auditors to perform the audit activities of the Sustainability disclosures of the listed manufacturing companies. A summary of their response is provided in Table 5.3.


Table 5.3: Descriptive Statistics on Choices of Respondents Regarding Auditors Group for the Audit Activities of Sustainability Disclosures

Respondent GroupAuditors Group

Financial AuditorsEnvironmental

AuditorsBoth Financial &

Environmental AuditorsAccounts Executives 10% 60% 30%

Internal Auditors 30% 50% 10%

External Auditors (ACA/FCA) 40% 30% 30%

Member of the Regulatory

Bodies

26.67% 53.33% 20%

Environmental Activists 10% 70% 20%

All Respondents 24.70% 50.59% 22.35%Source: Field survey.

Table 5.3 reveals that 50.59% of the entire survey respondents preferred the specialist Environmental Auditors and 24.70% of the respondent chose the companies’ Financial Auditors. While 22.35% of the total respondents opined that both Financial and Environmental auditors should perform the audit activities of Sustainability disclosures.

Figure 5.4: Percentage Distribution of Choices of Different Respondent Groups Regarding Auditors type for the Audit Activities of Sustainability Disclosures


As well, Figure 5.4 shows the group comparison result which revealed that most of our survey participants considered Environmental Auditors as necessarily relevant in establishing ideal SR practices among the listed manufacturing companies in Bangladesh. This finding is consistent with the recommendation of International Organization for Standardization (ISO, 2004).

5.3 Perceptions of Respondents on SR Related Regulatory frameworks in Bangladesh.

This section provides analysis on the perceptions of stakeholders concerning the regulatory frameworks of the listed manufacturing companies in Bangladesh.

Table 5.4 and Figure-5.5 present the descriptive statistics for the responses of the survey participants on items SQ-5 of the questionnaire which is related to the rules and regulations of SR in Bangladesh.


Table 5.4: Descriptive Statistics of Perceptions of Respondents Regarding SR Related Regulatory Frameworks in Bangladesh

Respondent Groups

Descriptive Statistics

SQ-5

Mean std

Accounts Executives 4.35 .79

Internal Auditors 4.05 .80

Professional Accountants (CA) 4.15 .85

Member of the Regulatory Bodies 4 .52

Environmental Activists 4.90 .3

Total Respondents 4.14 .78

Source: Field survey. Note: std=Standard Deviation, SQ-5=Survey Questionnaire’s Item No-5,

Figure 5.5: Perceptions of Stakeholders Regarding the Mandatory Regulatory Requirements for SR in Bangladesh.


Table 5.4 and Figure 5.5 revealed that 80% of the survey participants were either agreed or strongly agreed with the concept that SR should be a mandatory task for the listed manufacturing companies in Bangladesh.

As well, Figure 5.6 further provide the group comparison result which indicated that 80% respondents of Accounts Executives group, 70% of Internal Auditors group, 70% of External Auditors group, 86.45% of Member of the Regulatory Bodies and 100% respondents of Environmental Activists group were either agreed or strongly agreed with the idea that SR should be a mandatory task for the listed manufacturing companies in Bangladesh.

Figure: 5.6 Perceptions of Selected Stakeholder Groups Regarding the Mandatory Legal Requirements for SR in Bangladesh.



These findings indicate strong consensus among survey participants regarding mandatory legal requirements for SR in Bangladesh. Similar views were explored in the study of Asaduzzaman et al. (2014) which indicated that the main reason for not disclosing Sustainability information is the absence of mandatory legal requirements in Bangladesh. In this regard, a study of Ahmed and Ishwerf (2013) concluded that the prevailing managerial attitude is: ‘we will only comply if we are legally bound to do so’.

6. ConclusionsSustainability reporting has become increasingly relevant to the enterprise and in the development process for ensuring Sustainable development. Because, many development activities, specially manufacturing activities gradually increase environmental hazards. Therefore, perceptions of stakeholders regarding the reporting practices is considerable. Accordingly, with the purpose of exploring the manifold perceptions of five selected managerial and non-managerial stakeholder groups concerning the various aspects of the reporting practices of the listed manufacturing companies in Bangladesh, present study employed e-mail survey method with the help of a structured questionnaire. The findings show that most of the selected stakeholders considered SR as a substantial tool for reducing environmentally hazardous activities. Stakeholders also thought that external audit is essential for confirming credibility of sustainability disclosures and they want to see the SR practices as a mandatory task for the listed manufacturing companies in Bangladesh. These results have significant regulatory implications, because 55% of the total respondents have the membership with one or more professional accounting bodies like ICAB and ICMAB. Thus, the findings of this study have specific academic, regulatory and managerial implications. Based on the empirical findings on perceptions of stakeholders on credibility issue of sustainability disclosure, this study demands that ICAB, ICMAB and other relevant regulatory bodies should develop necessary guidelines or Auditing Standards for external verification of sustainability information as well take proper initiatives to encourage the listed companies to adopt the culture of environmental audit in order to enhance transparency of their sustainability performance and disclosures. Besides, Regulatory Bodies should emphasize on proper enforcement

of existing sustainability reporting related rules and regulations. Because, in absence of an effective law enforcement mechanism there is no guarantee that legal requirements will necessarily lead for compliance. However, due to time and resources constraints, only 85 respondents from five stakeholder groups were included in this study. The selected stakeholder groups were slightly different in sample sizes; a more similar sample size among the selected stakeholder groups would be preferred. Moreover, the study did not include the shareholders, consumers and commercial bankers in the list of selected stakeholder groups. Consequently, the researcher calls for future research to initiate similar survey so that a better informed picture of stakeholders’ perceptions on SR can be sketched by inclusion of shareholders, consumers and commercial bankers in the list of stakeholder groups. In this regard, stakeholder groups should be similar in size and the number of respondents should be increased. The researcher believed that such study may expand the knowledge concerning the views of stakeholders on sustainability reporting practices in Bangladesh.

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Appendix-A

Sample of Research Questionnaire

Dear Respondent,

I am a member of BCS (General Education) Cadre and presently

working as an Assistant Professor (Accounting) at the Mymensingh

Government College, Mymensingh. The title of my proposed research

is “Stakeholders’ Perception towards Sustainability Reporting

Practices: Evidence from Bangladesh”. The purpose of this study

is to explore the perception of the stakeholders regarding the various

aspects of Sustainability Reporting practices in Bangladesh. For

conducting the study, your cordial help is necessary. It is assured that

all the data supplied shall be used solely for the purpose of academic

research and will be treated with utmost confidentiality.

Sincerely yours

Dr. Mohammed Fazlur Rahman Khan

Assistant Professor (Accounting)

Mymensingh Govrnment College, Mymensingh,

Mobile:01745990946

E-mail: [email protected]

Section A: General Information

1. Name of the respondent:

2. Name of the organization:

3. Designation and department:

4. Number of working years with the current organization: : 1-5yrs /

5- 10yrs /10yrs and above


https://www.dsebd.org/pdf/DSE%20GRI%20Guidance%20Document%20Final.pdf

https://www.dsebd.org/pdf/DSE%20GRI%20Guidance%20Document%20Final.pdf

https://doi.org/10.1108/IJOES-05-2017-0071

http://ro.uow.edu.au/cgi/viewcontent.cgi?article=4239&context%20=theses

http://ro.uow.edu.au/cgi/viewcontent.cgi?article=4239&context%20=theses

http://digirep.rhul.ac.uk/file/9856f79c-55ec-ff02-3526....79e02/6/re_submit.pdf



5. No. of working years in the current role: 1-2yrs / 3-5yrs / 5- 10yrs /10years and above

6. Highest qualification: Secondary / Graduation / Masters / Others.

7. Field of study (for Bachelor Degree): Business Studies / Social science / Science / Others

8. Membership of Professional Accounting Bodies (if any): ICAB / ACCA / ICMAB / Others / No

Date of interview:

Data Collection Period: 2019

Section B

Significance of SR practices of the organizations

SQ-1. “SR practice can play a significant role in reducing environmentally hazardous activities of the listed manufacturing companies in Bangladesh.”

-to what extent do you agree or disagree to this statement?

[Please tick on the answer that applies.]

a) Strongly disagree b) Disagree c) Neutral d) Agree e) Strongly agree.

Credibility issue and needs of external audits

SQ-2. “Sustainability disclosures of the listed manufacturing companies in Bangladesh do not reflect the real Sustainability performance of the

companies”-to what extent do you agree or disagree to this statement?



SQ-3. “Sustainability disclosures which are published by listed manufacturing companies in Bangladesh should be externally verified”-to what extent

do you agree or disagree to this statement?



SQ-4. Which kind of auditor do you prefer to perform the audit activities of Sustainability Disclosures of the listed manufacturing companies in

Bangladesh?


a) The company’s financial auditors.

b) Specialist Environmental auditors.

c) Both financial and Environmental auditors.

Regulatory frameworks for SR in Bangladesh.

SQ-5. “SR should be a mandatory task for the listed manufacturing companies in Bangladesh.”-to what extent do you agree or disagree to this

statement?


a) Strongly disagree, b) Disagree c) Neutral d) Agree e) Strongly agree


stakeholders’ perceptions towards sustainability reporting

Documents