Which of the following statements is true regarding corporate social responsibility (CSR)?

Introduction:

Corporate Social Responsibility (CSR) involves companies taking responsibility for their impact on society and the environment beyond statutory obligations.

Nature of CSR Reporting:

CSR reporting is generally voluntary, although some regions and industries may have mandatory requirements.

Options Analysis:

Option A: Many CSR areas may overlap with the audit universe or annual audit plan, but not all.

Option B: Investors may increasingly rely on CSR information, particularly in ESG (Environmental, Social, Governance) investing.

Option C: CSR reporting is largely voluntary, unlike financial or regulatory reporting which is often mandatory.

Option D: Operating management typically plays a significant role in CSR efforts and reporting.

Conclusion:

The correct statement regarding CSR is that it is largely voluntary, unlike many other areas of reporting responsibilities that impact stakeholders.

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