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Cited by 181Corporate Social Responsibility ReportingAuditing, Earnings Management, GovernanceCorporate Governance and Financial Management

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Mandatory corporate social responsibility assurance practices: The case of King III in South Africa

Ackers, Barry, Eccles, Neil Stuart·2015·Accounting, Auditing & Accountability Journal
DOI 10.1108/aaaj-12-2013-1554
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Abstract

Purpose: – Despite its voluntary nature, the Johannesburg stock exchange (JSE) requires all listed companies to apply the King III principles, including providing independent CSR assurance. King III has accordingly made independent CSR assurance a de facto mandatory requirement, albeit on an “apply or explain” basis. The purpose of this paper is to examine the impact mandatory corporate social responsibility (CSR) assurance practices in South Africa, within a King III context. Design/methodology/approach: – To understand the impact of King III on South African CSR assurance practices, a longitudinal study covering reporting periods both before and after King III implementation. The first stage reviewed the annual reports of the 200 largest JSE-listed companies to establish the frequency of CSR assurance provision. The second stage involved performing a content analysis on the CSR assurance reports. Findings: – King III is driving the institutionalisation of CSR assurance practices in South Africa, as evidenced by the growth in CSR assurance since the implementation of King III. The study also found that the audit profession’s dominance was being eroded by specialist CSR assurors providing higher levels of assurance, despite concerns about the rigour of their assurance methodologies. Voluntary CSR assurance practices have resulted in the inconsistent application of CSR assurance practices, impairing the ability of stakeholders to understand the nature and scope of CSR assurance engagements. It is argued that this deficiency may be overcome through the imposition of a mandatory CSR assurance regime. Originality/value: – The pervasive impact of the King Code of Governance on South African organisations makes it appropriate to examine its impact on South African CSR assurance practices. As such, this paper represents one of the first studies to specifically consider the impact of a mandatory regulatory requirement for independent CSR assurance and suggests a future direction for global CSR assurance practices.

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Metadata

Authors
Ackers, B., & Eccles, N. S.
Affiliations
University of South Africa (ZA)
ORCID
Venue
Accounting, Auditing & Accountability Journal
Publisher
Emerald
Published
2015-05-18
Volume
28
Issue
4
Pages
515-550
ISSN
0951-3574 (ISSN-L)
DOI
10.1108/aaaj-12-2013-1554
OpenAlex
W1661308751
Cited by
181
References
5
Citations by year
2026: 7 · 2025: 21 · 2024: 22 · 2023: 20 · 2022: 18 · 2021: 25 · 2020: 25 · 2019: 13 · 2018: 9 · 2017: 10 · 2016: 10 · 2015: 1
FWCI
27.94
Type
journal article
Language
en
Open access
closed
Licence
www.emerald.com/insight/site-policies (tdm)
Locations
Accounting Auditing & Accountability Journal (publishedVersion)
Topics
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
  • Social Sciences › Business, Management and Accounting › Accounting › Auditing, Earnings Management, Governance
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Governance and Financial Management
Keywords
Johannesburg Stock Exchange, listed companies, auditing profession, corporate governance codes, South Africa

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