Question
Hello. Please see attached picture for the case study. I need assistance with the following two questions: 1. Compare the definition of Corporate Social Responsibility
Hello. Please see attached picture for the case study. I need assistance with the following two questions:
1. Compare the definition of Corporate Social Responsibility (CSR) with the definition provided in the CSR strategy of Ayifani Petrol. (3 Marks)
2. Measure the extract from Ayifani Petrols integrated report against the Six Capital requirements of integrated reporting. (8 marks)
The Six Capitals are: Financial, Manufacturing, Intellectual, Natural, Social and Human for integrated reporting.
Please may answers be in accordance with the mark allocation. No copy and paste or referencing. Answer to be concise and well formatted.
CASE STUDY Read the following case study and answer the questions that follow. As a Managing Director (and Chartered Accountant) of Ayifani Petrol Ltd, listed on the Johannesburg Stock Exchange (JSE) you have been tasked to review the draft memorandum to be sent to the Board of Directors as prepared by Werner du Plessis CA(SA), the Financial Director. DRAFT MEMORANDUM DATE: 31 July 2022 MATTER 1: FEEDBACK FROM LAST BOARD MEETING As discussed in the last board meeting, our 2022 integrated report will continue to highlight the key matters being: . Profits and dividends created for shareholders The tax we have paid since inception to boost the economy The number of jobs we have created thus far Our CSR definition which is all about maximising value for shareholders and creating more jobs MATTER 2: FUEL PRICES Due to the ongoing matters between Russia and Ukraine influencing the fuel prices, we have discovered that if we purchase an expander chemical from the undisclosed market, we can expand the amount of fuel we currently have and thus increase stock and revenue levels in this time of need. This will also provide the company with the opportunity to create more jobs. We have tested the first batch using this expander chemical and we realised that it is too strong, as a result, during the fuel expanding process, the waste needs to be discarded in the nearby river. Claims have been made around the chemicals killing the fishes in the river and the kids being hospitalised due to this chemical, however, these are only claims, nothing validated so far, as a result, I am suggesting that we take advantage of the increased fuel demand by using this expander chemical. We need your approval as the board to proceed. Side note(from Werner to you): Upon your review, please ensure that this Memo does not lead to more questions from the board. I trust you bud! *wink*Step by Step Solution
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