Question 4 25 points According to IFRS website cited 20 November 2020. "Amidst heightened focus on environmental, social and governance (ESG) matters, developments in sustainability reporting and increased calls for standardisation of such reporting the IFRS Foundation Trustees are now seeking stakeholder input on the need for global sustainability standards and gauging support for the Foundation to play a role in the development of such standards. The Trustees began its consideration of sustainability reporting in Q1 2019 in the context of its five-yearly strategy review. The consultation paper, published in September 2020, sets out possible ways the Foundation might contribute to the development of global standards by broadening its current remit beyond the development of financial reporting standards and using its experience in international standard-setting its well-established and supported standard-setting processes and its governance structure". REQUIRED Assume you have recently been appointed by IFRS Foundation Trustees to research and help with the preparation of the Conceptual Framework for corporate social responsibility reporting As part of this task your are asked 4.1. what is corporate social-responsibility reporting and why do you think Conceptual Framework for social responsibility reporting is needed? (5 marks) 4.2. using Positive Accounting theory, Stakeholder theory and Legitimacy theory explain why corporations would voluntary disclose social responsibility information even in the absence of regulation? (10 marks) 43. discuss at least five issues with the current Financial Reporting Conceptual Framework that does not encourage or assist corporations to provide social responsibility reports? (10 Marks) Please download the template below to prepare your response to this question and upload to submit once complete. 200974 Question 4 Answer Template docx Attach File Browse My Computer Browse Content Collection