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PENGERTIAN CSR, SUSTAINABILITY, GOVERNANCE&ACCOUNTABILITY -2
CSR
Milton
Donaldson Epstein Epstein
Friedman
(1995) (2014) (2014)
(1970)
Video
EXTENDED ENTERPRISE RISK MANAGEMENT
(ERM)
• SUSTAI NABILITY – BEYOND ENTERPRISE RISK
MANAGEMENT
IMPLEMENTING EXTENDED ERM PLATFORM
IIRC Framework)
STAKEHOLDER SCORECARD-1
STAKEHOLDER SCORECARD & ERM
• Enterprise risk management is a process, effected by an entity's
board of directors, management and other personnel, applied in
strategy setting and across the enterprise, designed co identify
potential events that may affect the entity, and manage risk to
be within its risk appetite, to provide reasonable assurance
regarding the achievement of entity objectives
• The underlying premise of enterprise risk management is that
every organization exists to provide value for its stakeholders.
• Enterprise risk management enables management to effectively
deal with uncertainty and associated risk and opportunity,
enhancing the capacity to build value
STAKEHOLDER SCORECARD & ERM-2
• Enterprise risk management also helps ensure effective reporting
and compliance with laws and regulations, and helps avoid damage
to the organization's reputation and associated consequences
• From that perspective enterprise risk management can play a role in
management's choice to perform at a certain sustainability level and
to report thereon
• This supports Kamp-Roelands and Hibbitt's theorem that
organizations can improve their responsibilities towards the
community by providing more extensive information on their social
and environmental achievements
• Casey (2007) describes sustainable development reporting as a
relevant and valuable business risk management tool and useful for
enhancing and protecting reputation
STAKEHOLDER SCORECARD-2
• Atkinson et at (1998) and Nickols (2011) proposed the
stakeholder scorereard approach
• The transaction-based or quid-pro-quo view of the relationship
between an organization and its members or stakeholders
forms the structure of a Stakeholder Scorecard
ILLUSTRATIVE STAKEHOLDER SCORECARD
TOTAL PERFORMANCE SCORECARD
TPS AND INTEGRATED REPORTING
IIRC Framework
IIRC Framework
CLOSING NOTES
• Regulating is one way to increase transparency and performance
• Still risks exist:
• Omission
• Commission
• Some actions need be done in order for the policy (regulation) can go
as expected.
• Integrated Reporting (as the corporate governance tools in the
componen of ASEAN CG scorecard) as the last evolution of corporate
Reporting still in development
• Once adopted mandatory by financial authority and accounting
profession, the Auditor should play important role
• In ACGS: adoptions of the best practices of extended ERM using
business sustainability risk are hinghly recommended (level 1 and 2).