72 | P a g e

CORPORATE SOCIAL RESPONSIBILITY AND

ETHICAL ISSUES

Harpreet Kaur

Assistant Professor, S.G.T.B. Khalsa College, Sri Anandpur Sahib (Punjab)(India)

ABSTRACT

Ethics are the principles of right action with reference to a particular person or profession. Values are

describing the behavior, honesty, respect, discipline that comes from the role models. When these values are put

in action then it’s called ethics. Ethical Issues in Accounting considers several aspects of accounting which have

significant ethical dimensions, including creative accounting, the ethical implications of accounting regulation,

the dilemmas faced by the accountant in the public sector, the personal and professional issues involved in

whistleblowing, auditing, ethical education for accountants, taxation practice, and social accounting, which

incorporates accounting for the environment. Accounting scandals which we frequently come across in this

century are evidences for human beings’ violation of the rules established with the purpose of living in

prosperous conditions for the benefit of some individuals or groups. Ethics and ethical dilemmas surround their

lives. Television, radio, newspapers, magazines and World Web sites feed us with stories of ethical violations in

politics, sports, religion, and business. In a survey taken six years ago, over 60 percent of workers surveyed

reported greater pressures than just five years earlier, and 40 percent reported that the pressures had increased

in just one year. Thus, today’s organizations have a clear need to understand and control the ethical forces at

work inside their walls, and more are attempting to do something about it. The main aim of this paper is to

study and analyses the corporate social responsibility of the leading companies working in India. For the

purpose of the study take analysis of five leading companies.

Keywords: accounting, Business, Corporate Ethics, social responsibilities.

I. INTRODUCTION

Corporate Social Responsibility (CSR) main aim is to embrace responsibility for the company's actions and

encourage a positive impact through its activities on the environment, consumers, employees, communities,

stakeholders and all other members of the public spare. Being a good corporate citizen the companies have to be

internally well governed and externally responsible. Accounting ethics are also an important part of CSR. It‟s a

responsibility of the company that they must provide the true and fair view of accounting data so that the

stakeholders can take the right decision. Ethics in Accounting is one of the most important, yet most

misunderstood, concerns in the world of business today. The field of business ethics deals with questions about

whether specific business practices are acceptable. Regardless of their legality, actions taken in such situations

will surely be judged as right or wrong, as either ethical or unethical. The very nature of business ethics is

73 | P a g e

controversial, and there is no universally acceptable approach for addressing these issues. On the other hand,

governments encourage organizational accountability for ethical and legal conduct.

1.1 Business ethics: The word “Ethics” is derived from Greek word “Ethor” which slandered or ideas that

prevail. Business ethics are the moral principles which should govern business activities. These provide code of

conduct that guides business managers in performing their jobs.

A company‟s managers play an important role in establishing its ethical tone. If managers behave as if the only

thing that matters is profit, employees are likely to act in a like manner. A company‟s leaders are responsible for

setting standards for what is and is not acceptable employee behavior. It has also some important implications

for corporate governance and the regulation of the public accounting profession. Sarbanes and Oxley also

emphasizes on the importance of internal control by businesses which include but not limited to:

Ensure compliance with laws and regulations.

Safeguarding of the company assets.

Avoid falsification of information in the financial records.

Accountability and responsibility for functions assigned.

These are measures are intended to deter fraud, padding, falsification of financial records or any other activities

that may lead to misleading financial reports.

1.2 Three Factors that Influence Business Ethics

Individual

Standards

And Values

Managers'

And Coworkers'

Influence

Opportunity:

Codes and Compliance

Requirements

Ethical/Unethical Choices in

Business

1.3 Reasons for a strong commitment to ethical values:

Ethical companies have been shown to be more profitable.

Making ethical choices results in lower stress for corporate managers and other employees.

Their reputation, good or bad, endures.

Ethical behavior enhances leadership.

The alternative to voluntary ethical behavior is demanding and costly Regulation

1.4 Questions to Consider in Determining Whether an Action Is Ethical

Are there any potential legal restrictions or violations that could result from the action?

Does your company have a specific code of ethics or policy on the action?

Is this activity customary in your industry?

Are there any industry trade groups that provide guidelines or codes of conduct that address this issue?

Would this activity be accepted by your coworkers?

Will your decision or action withstand open discussion with coworkers and managers and survive

untarnished?

74 | P a g e

How does this activity fit with your own beliefs and values?

How would you feel if your actions were published in the newspaper?

1.5 APESB

Accounting Professional & Ethical Standards Board (APESB) is an independent body that sets out the code of

ethics and professional standards with which accounting professionals who are members of CAP Australia,

Institute of Chartered Accountants. APESB develops new and revised standards taking into consideration

market and stakeholders needs. A distinguishing mark of the accountancy profession is its acceptance of the

Responsibility to act in the public interest. Therefore, a Member„s responsibility is not exclusively to satisfy the

needs of an individual client or employer. In acting in the public interest, a Member shall observe and comply

with this Code. If a Member is prohibited from complying with certain parts of this Code by law or regulation,

the Member shall comply with all other parts of this Code.

1.5.1 This Code contains three parts:

Part A establishes the fundamental principles of professional ethics for Members and provides a conceptual

framework that Members shall apply to:

(a) Identify threats to compliance with the fundamental principles;

(b) Evaluate the significance of the threats identified; and

(c) Apply safeguards, when necessary, to eliminate the threats or reduce us to an Acceptable Level

Parts B and C describe how the conceptual framework applies in certain situations. They provide examples of

safeguards that may be appropriate to address threats to compliance with the fundamental principles. They also

describe situations where safeguards are not available to address the threats, and consequently, the circumstance

or relationship creating the threats shall be avoided. Part B applies to Members in Public Practice. Part C applies

to Members in Business.

1.5.2 Fundamental Principles:

A Member shall comply with the following fundamental principles:

Objectivity

The principle of objectivity imposes an obligation on all Members not to compromise their professional or

business judgment because of bias, conflict of interest or the undue influence of others. A Member may be

exposed to situations that may impair objectivity. It is impracticable to define and prescribe all such situations.

Professional Competence and Due Care

The principle of professional competence and due care imposes the following obligations on all Members:

(a) To maintain professional knowledge and skill at the level required to ensure that clients or employers receive

competent Professional Service; and

(b) To act diligently in accordance with applicable technical and professional standards when providing

Professional Services.

Confidentiality

The principle of confidentiality imposes an obligation on all Members to refrain from:

75 | P a g e

(a) Disclosing outside the Firm or employing organization confidential information acquired as a result of

professional and business relationships without proper and specific authority or unless there is a legal or

professional right or duty to disclose; and

(b) Using confidential information acquired as a result of professional and business relationships to their

personal advantage or the advantage of third parties.

Professional Behavior

The principle of professional behavior imposes an obligation on all Members to comply with relevant laws and

regulations and avoid any action or omission that the Member knows or should know may discredit the

profession. This includes actions or omissions that a reasonable and informed third party, weighing all the

specific facts and circumstances available to the Member at that time, would be likely to conclude adversely

affects the good reputation of the profession.

II. LITRATURE REVIEW

Within the context of their study; a short literature review about the importance and qualities of members of

accounting profession, problems experienced by members of profession in their working life and studies carried

out in their country regarding the matters of occupational ethics in accounting has been given.

Vincent N. Onyebuchi (2011) studied on “Ethics in Accounting” the study gave an indication that more action

has to be taken by government to plug the loopholes that made it possible for businesses and financial

institutions to engage in illegal financial practices. Senal and AteĢ (2012) stated the reason why the

accounting has an important place within the sustainable development as the production and consumption levels

of companies and their effects on environment in their studies. Therefore, they indicated in their studies that

accounting is needed in measuring these effects, costing of natural resources and determining the prices.

Hareesh Rebelly, et al, in their paper “Ethical issues in business and corporate governance” A case study of

NTPC-Ramagundam did study on the issues related with corporate governance and ethical issues. He found that

there was a real threat to the future of every corporation related to failure in corporate governance. Selami

GÜNEY (2012) studied on “The Problems and Ethical Attitudes of Accounting Professionals toward

Accounting Errors and Frauds: A Model Practice in City of Erzurum”. In this study, the opinions of the

members of accounting profession about the accounting profession as per their titles, and their attitudes

regarding the field of accounting were studied. In this study applied to 77 members of profession who can be

reached among 130 members working as registered to the Chamber of Public Accountant and Financial Advisor

in city of Erzurum, it was possible to see that problems about the Accounting Profession from past to present

continue. Parveen Maan(2014) in the article on “CSR- KEY ISSUES AND CHALLENGES IN INDIA”

discuss about the value propositions evident in the research on the business case for Corporate Social

Responsibility. The main objectives of study are to study the status of CSR in India and the issues and

challenges faced by CSR in India. It was an exploratory research, based on the secondary data. Yasmin Begum

R. Nadaf et al studied on“ Corporate Social Responsibility: Issues Challenges and Strategies for Indian Firms”

they discuss that aim of Corporate Social Responsibility was to embrace responsibility for the company's

76 | P a g e

actions and encourage a positive impact through it was activities on the environment, consumers, employees,

communities, stakeholders and all other members of the public spare.

III. OBJECTIVE

To study the status of CSR in India.

To explore the accounting ethics in Indian companies.

IV. SCOPE

The scope of the study is restricted to five leading Indian companies. It covers only their CSR and ethical issues

related with accounting practices.

V. RESEARCH METHODOLOGY

This research paper is an attempt of exploratory research, based on the secondary data Sourced from journals,

magazines, research paper, articles and Annual reports of the companies And Web sources are used which are

recorded and enumerated.

VI. CSR AND ACCOUNTING ETHICS IN INDIAN COMPANIES

In Indian environment INFOSYS and TATA are known for their ethical behavior. Beside these companies

HDFC, RELIANCE and HINDUSTAN UNILEVER also take initiative in CSR.

6.1 Infosys

Infosys Limited was started in 1981 by seven people with US$ 250. Today, the company is a global leader in

consulting, technology and outsourcing with revenues of US$ 7.231 billion (LTM Q3 FY13). Many of the

world‟s most successful organizations rely on Infosys to deliver measurable business value. Infosys provides

business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build

tomorrow‟s enterprise. The company award-winning Infosys Labs and its breakthrough intellectual property can

be leveraged as a co-creation engine to accelerate innovation across the enterprise. Infosys pioneered the Global

Delivery Model (GDM), based on the principle of taking work to the location where the best talent is available,

where it makes the best economic sense, with the least amount of acceptable risk. Continued leadership around

GDM enables Infosys to drive extraordinary efficiencies and free up clients‟ resources for strategic

transformation or innovation initiatives. Infosys has a global footprint with 67 offices and 69 development

centers in US, India, China, Australia, Japan, Middle East, UK, Germany, France, Switzerland, Netherlands,

Poland, Canada and many other countries. Infosys takes pride in building strategic long-term client

77 | P a g e

relationships. 97.5% of its revenues come from existing customers Infosys Limited has been an early adopter of

Corporate Social Responsibility initiatives. Along with a Sustained economic performance, environmental and

social stewardship is also a key factor for holistic business Growth. Infosys established in 1996 as a not-for-

profit nodal body aimed at providing a dedicated approach to community development and also to fulfill their

CSR commitments. Infosys Foundation Works towards removing malnutrition, improving healthcare

infrastructure, supporting primary education, Rehabilitating abandoned women and children, and preserving

Indian art and culture. Infosys Foundation Partners with non-government organizations (NGOs) to make a

difference among local communities. The Company‟s focus has always been to contribute to the sustainable

development of the society and environment, and to make their planet a better place for future generations. At

Infosys, it is imperative that company affairs are managed in a fair and transparent manner. This is vital to gain

and retain the trust of stakeholders. Corporate governance framework ensures effective engagement with

stakeholders and helps evolve with changing times. The amended norms are aligned with the provisions of the

Companies Act, 2013, and are aimed to encourage companies to „adopt best practices on corporate governance‟.

They believe that an active, well-informed and independent board is necessary to ensure the highest standards of

corporate governance. It is well-recognized that an effective Board is a pre-requisite for strong and effective

corporate governance. At Infosys, the Board of Directors (nothe Board‟) is at the core of their corporate

governance practice and oversees how the Management serves and protects the long-term interests of

stakeholders. Corporate governance framework ensures that they make timely disclosures and share accurate

information regarding financials and performance, as well as the leadership and governance of the Company.

Their corporate governance philosophy is based on the following principles: Corporate governance standards

should go beyond the law and satisfy the spirit of the law, not just the letter of the law when in doubt, disclose.

Ensure transparency and maintain a high level of disclosure Clearly distinguish between personal conveniences

and corporate resources Communicate externally, and truthfully, about how the Company is run internally

Comply with the laws of all countries in which they operate Have a simple and transparent corporate structure

driven solely by business needs

6.2 Tata Consultancy Services

TCS shows that the good governance is constituted by transparency, fairness and accountability to stakeholders.

The managements of well-governed organizations understand that they are mere trustees managing the affairs of

the company in the best interests of the notrue‟ owners – the shareholders. The Tata group‟s Tata Business

Excellence Model (TBEM), Steering and Working Committees of the Climate Change Group within Tata

Quality Management Services (TQMS), which drives sustainability guidelines for the group. Obviously, this

calls for greater symmetry of information between company and their stakeholders. It logically follows then that

consistently practicing the best disclosure and reporting practices is simply a way of life in organizations with

good governance. The true test of good governance and risk management structures is their ability to withstand

the vicissitudes of economic and business cycles. Employees will think twice before joining companies which

do not have good governance practices. Customers will shy away from companies which do not follow the

rules; society will not respect companies which do not follow the best practices. It will not be an exaggeration to

say that the value of a company in future will be decided by the governance system of a company. Governance

78 | P a g e

will become the key to sustainability in business. At the end of the day, building a large corporation is easy but

building one of the most respected corporations in the world and sustaining it over many years is a big

challenge. Only those companies that were built on a platform of strong corporate governance will earn respect

from its stakeholders and enjoy a more sustainable growth. Hence TCS has chosen the following channels to

drive its CSR initiatives:

Developing innovative solutions to address large-scale societal problems by utilizing IT core competence;

Volunteering for projects that address the felt need of communities in which TCS operates, while aligning

with the core uses of TCS‟ CSR;

Participating in community development program championed by their clients;

Partnering with select non-government and civil society organizations and other government bodies;

Supporting large-scale causes such as disaster relief or any other cause as determined by the Corporate

CSR Council.

6.3 HDFC

HDFC Bank Limited (''HDFC Bank'' or 'nothe Bank''), incorporated in Mumbai, India is a publicly held banking

company engaged in providing a range of banking and financial services including commercial banking and

treasury operations. The Bank is governed by the Banking Regulation Act, 1949.

BASIS OF PREPARATION: The financial statements have been prepared and presented under the historical

cost convention and accrual basis of accounting, unless otherwise stated and are in accordance with Generally

Accepted Accounting Principles in India (''GAAP''), statutory requirements prescribed under the Banking

Regulation Act, 1949, circulars and guidelines issued by the Reserve Bank of India (''RBI'') from time to time,

Accounting Standards (''AS'') specified under the Companies Act, 1956 (which are deemed to be applicable as

per section 133 of the Companies Act, 2013, read with Companies (Accounts) Rules, 2014) and current

practices prevailing within the banking industry in India. Use of estimates The preparation of financial

statements in conformity with GAAP requires the management to make estimates and assumptions considered

in the reported amounts of assets and liabilities (including contingent liabilities) as of the date of the financial

statements and the reported income and expenses for the reporting period. Management believes that the

estimates used in the preparation of the financial statements are prudent and reasonable. Actual results could

differ from these estimates. Any revision in the accounting estimates is recognized prospectively in the current

and future periods. The Members of HDFC Bank Limited Report on the Standalone Financial Statements. It

audited the accompanying standalone financial statements of HDFC BANK LIMITED (“the Bank”), which

comprise the Balance Sheet as at 31st March, 2016, the Statement of Profit and Loss and the Cash Flow

Statement for the year then ended, and a summary of the significant accounting policies and other explanatory

information. Management‟s Responsibility for the Standalone Financial Statements The Bank‟s Board of

Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with

respect to the preparation of these standalone financial statements that give a true and fair view of the financial

position, financial performance and cash flows of the Bank in accordance with the provisions of Section 29 of

the Banking Regulation Act, 1949, accounting principles generally accepted in India, including the Accounting

Standards prescribed under Section 133 of the Act, in so far as applicable to banks, and the guidelines issued by

79 | P a g e

the Reserve Bank of India. This responsibility also includes maintenance of adequate accounting records in

accordance with the provisions of the Act, for safeguarding the assets of the Bank and for preventing and

detecting frauds and other irregularities; selection and application of appropriate accounting policies; making

judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of

adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness

of the accounting records, relevant to the preparation and presentation of the financial statements that give a true

and fair view and are free from material misstatement, whether due to fraud or error. Auditor‟s Responsibility

their responsibility is to express an opinion on these standalone financial statements based on their audit. They

take into account the provisions of the Act, the accounting and auditing standards and matters which are

required to be included in the audit report under the provisions of the Act and the Rules made thereunder

6.4 Reliance

Policy on Financial and Accounting Integrity

1. What is their commitment?

They committed to the maintenance of accurate and complete corporate records.

2. What is expected of employees?

Transactions between Reliance Group Companies and outside individuals and organizations must be promptly

and accurately entered in their books and systems in accordance with generally accepted accounting practices

and principles.

3. What actions on the part of employees are considered unacceptable?

Rationalizing or even considering misrepresentation of facts or falsification of records is completely

unacceptable. It is illegal, will not be tolerated, and will result in disciplinary action.

4. What is the specific policy to ensure financial and accounting integrity?

All accounts and records shall be documented in a manner that:

clearly describes an identifies the true nature of business transactions, assets, liability, income and

expenditure and

Properly and timely classifies and records entries on the books of account in conformity with generally

accepted accounting practices and principles. No record or entry or document shall be false, distorted,

misleading, misdirected, and deliberately left incomplete or suppressed. There is no room for:

Improper or fraudulent accounting;

Documentation or financial reporting contrary to company‟s policies.

The company has established internal control standards and procedures to ensure that assets are protected and

properly used and that financial records and reports are accurate and reliable. Employees share the responsibility

for maintaining and complying with required internal controls. Improper accounting and documentation and

fraudulent financial reporting are not only contrary to Company policy but also may be in violation of laws and

regulations. The Company has an Internal Audit Cell besides external firms acting as independent internal

auditors that reviews internal controls and operating systems and procedures. A dedicated Legal Compliance

Cell ensures that the Company conducts its businesses with high standards of legal, statutory and regulatory

compliances. RIL has instituted a legal compliance programmer in conformity with the best international

80 | P a g e

standards, supported by a robust online system that covers the Company's manufacturing units as well as its

subsidiaries. The purview of this system includes various statutes, such as industrial and labor laws, taxation

laws, corporate and securities laws and health, safety and environment regulations. At the heart of their

processes is the extensive use of technology. This ensures robustness and integrity of financial reporting and

internal controls, allows optimal use and protection of assets, facilitates accurate and timely compilation of

financial statements and management reports and ensures compliance with statutory laws, regulations and

company policies.

6.5 HUL

Hindustan Unilever established in 1933 as lever brothers and in1956 become known as Hindustan Lever limited.

The company was renamed in June 2007 as Hindustan Unilever limited. Hindustan Unilever Limited (HUL) is

India‟s largest Fast Moving consumer Goods (FMCG) company touching the lives out of the three goods

Indians HUL works to create a better future every day they feel good, look good and get more good for us and

good for others.

ACCOUNTING POLICY CORPORATE GOVERNANCE Transparency and accountability are the two basic

tenets of Corporate Governance. At Hindustan Unilever, they feel proud to belong to a Company whose

visionary founders laid the foundation stone for good governance long back and made it an integral principle of

the business, as demonstrated in the words above. Responsible corporate conduct is integral to the way to do

business. Their actions are governed by their values and principles, which are reinforced at all levels within the

Company. At Hindustan Unilever, we are committed to doing things the right way which means taking business

decisions and acting in a way that is ethical and is in compliance with applicable legislation. Their Code of

Business Principles is an extension of values and reflects continued commitment to ethical business practices

across operations. They acknowledge individual and collective responsibilities to manage business activities

with integrity. Their Code of Business Principles inspires them to set standards which not only meet applicable

legislation but go beyond in many areas of their functioning. To succeed, they believe, requires highest

standards of corporate behavior towards everyone they work with, the communities they touch and the

environment on which have an impact. This is road to consistent, competitive, profitable and responsible growth

and creating long term value for shareholders, people and business partners. The above principles have been the

guiding force for whatever do and shall continue to be so in the years to come. The Board of Directors (nothe

Board') is responsible for and committed to sound principles of Corporate Governance in the Company. The

Board plays a crucial role in overseeing how the management serves the short and long term interests of

shareholders and other stakeholders. This belief is reflected in governance practices, under which strive to

maintain an effective, informed and independent Board. They keep the governance practices under continuous

review and benchmark their selves to best practices across the globe. Company was recognized for its

governance practices and was adjudged as the winner of the first ASSOCHAM Corporate Governance

Excellence Awards (2014-15) in the category of the listed Private Sector Company. AUDITORS'

RESPONSIBILITY responsibility is to express an opinion on these standalone financial statements based on

audit. They have taken into account the provisions of the Act, the accounting and auditing standards and matters

which are required to be included in the audit report under the provisions of the Act and the Rules made there

81 | P a g e

under. They conducted audit in accordance with the Standards on Auditing specified under sub–section 10 of

Section 143 of the Act. Those Standards require that they comply with ethical requirements and plan and

perform the audit to obtain reasonable assurance about whether the financial statements are free from material

misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and the

disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the

assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In

making those risk assessments, the auditor considers internal financial controls relevant to the Company's

preparation of the financial statements that give a true and fair view in order to design audit procedures that are

appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting

policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as

evaluating the overall presentation of the financial statements. They believe that the audit evidence they have

obtained is sufficient and appropriate to provide a basis for their audit opinion on the standalone financial

statements.

VII. ISSUES AND CHALLENGES FACED BY THESE COMPANIES:

7.1 Lack of Awareness of General Public in CSR Activities

There is a lack of interest of the general public in participating and contributing to CSR activities of companies.

This is because of the fact that there exists little or no knowledge about CSR. The situation is further aggravated

by a lack of communication between the companies involved in CSR and the general public at the grassroots.

7.2 Need to Build Local Capacities

There is a need for capacity building of the local nongovernmental organizations as there is serious dearth of

trained and efficient organizations that can effectively contribute to the ongoing CSR activities initiated by

companies. This seriously compromises scaling up of CSR initiatives and subsequently limits the scope of such

activities.

7.3 Issues of Transparency Lack of transparency

It is one of the key challenges for the corporate as there exists lack of transparency on the part of the small

companies as they do not make adequate efforts to disclose information on their programs, audit issues, impact

assessment and utilization of funds. This negatively impacts the process of trust building among the companies

which is a key to the success of any CSR initiative.

7.4 Non-Availability of Well Organized Non-Governmental Organizations

There is no availability of well-organized nongovernmental organizations in remote and rural areas that can

assess and identify real needs of the community and work along with companies to ensure successful

implementation of CSR activities.

7.5 Visibility Factor

The role of media in highlighting good cases of successful CSR initiatives is welcomed as it spreads good

stories and sensitizes the population about various ongoing CSR initiatives of companies. This apparent

influence of gaining visibility and branding exercise often leads many non-governmental organizations to

82 | P a g e

involve themselves in event based programs; in the process, they often miss out on meaningful grassroots

interventions.

7.6 Narrow Perception towards CSR Initiatives

Non-governmental organizations and Government agencies usually possess a narrow outlook towards the CSR

initiatives of companies, often defining CSR initiatives more as donor-driven. As a result, corporates find it hard

to decide whether they should participate in such activities at all in medium and long run.

7.7 Non-Availability of Clear CSR Guidelines

There are no clear cut statutory guidelines or policy directives to give a definitive direction to CSR initiatives of

companies. The scale of CSR initiatives of companies should depend upon their business size and profile. In

other words, the bigger the company, the larger it‟s CSR programs.

7.8 Lack of Consensus on Implementing CSR Issues

There is a lack of consensus amongst implementing agencies regarding CSR projects. This lack of consensus

often results in duplication of activities by corporate houses in areas of their intervention. This results in a

competitive spirit between implementing agencies rather than building collaborative 2045

VIII. CONCLUSION

As society is getting more concerned about the working policies of the companies. Society Expectations are

increasing towards the social development by the companies. So, it has become necessary for the companies to

practice social responsibilities to enhance their image in the society. Even though companies are taking serious

efforts for the sustained development, some critics still are questioning the concept of CSR. There are people

who claim that Corporate Social Responsibility underlies some ulterior motives while others consider it as a

myth. The reality is that CSR is not a tactic for brand building; however, it creates an internal brand among its

employees. Indulging into activities that help society in one way or the other only adds to the goodwill of a

company. Corporate Social Responsibility is the duty of everyone i.e. business corporations, governments,

individuals because of the reasons: the income is earned only from the society and therefore it should be given

back; thus wealth is meant for use by self and the public; the basic motive behind all types of business is to

quench the hunger of the mankind as a whole; the fundamental objective of all business is only to help people. It

can be concluded that Social corporate responsibility and the maintenance of high accounting ethical standards

is not an option but an obligation for all business. What cannot be measured cannot be improved.

REFERENCES

[1] Cavalieri, enrico, Ethics and Corporate Social Responsibility, SYMPHONYA Emerging Issues in

Management, 2007, 24-34.

[2] GÜNEY,Selami; Bozkurt, Ramazan, The Problems and Ethical Attitudes of Accounting Professionals

Toward Accounting Errors and Frauds: A Model Practice in City of Erzurum, International Journal of

Business and Social Science, Vol. 3 No.20,2012, 255 – 268.

83 | P a g e

[3] ISMAIL, maimunah, Corporate social responsibility and its role in community development: An

international perspective, Uluslararası Sosyal Ara_tırmalar Dergisi, The Journal of International Social

Research, Volume 2 / 9, 2009, 200-209.

[4] Jha, shekhar ,vidhu1, Mehra Vikas., Corporate governance issues practices and concerns in the

Indian context , ICTACT Journal on Management studies, VOLUME: 01, ISSUE: 02, 2015, 93 – 102.

[5] Maan, Parvee, CSR- key issues and challenges in India, International Journal of Science, Environment

and Technology, Vol. 3, No 6, 2014, 2038 – 2045.

[6] Nadaf Begum Yasmin R; Nadaf m. Shamshuddin, Corporate Social Responsibility: Issues Challenges and

Strategies for Indian Firms, IOSR Journal of Business and Management (IOSR-JBM), Volume 16, Issue 5.

Ver. III, 2014, 51-56.

[7] Onyebuchi N. Vincent, Ethics in Accounting, International Journal of Business and Social Science Vol. 2

No. 10, 2011.

[8] Rebelly, Hareesh; Ragidi, vijender, Ethical issues in business and corporate governance, International

journal of marketing, financial services and management research, vol. 1 no. 5, 62-67.

Websites:

[9] http://www.ril.com

[10] http://www.tcs.com

[11] http:// www.hdfcbank.com

[12] https:// www.hul.co.in

[13] https://www.infosys.com