Stigler's ‘private interest theory' proposes that regulatory bodies (including accounting standard setters) are made up of individuals who are self-interested, and these individuals will introduce regulation that best serves their own self-interest. If regulators acted in accordance with the predictions provided by private interest theory of regulation, what is the likely of the introduction of regulation aimed at reducing the problems associated with climate change, particularly if business corporations opposed such regulations?
Required
a. Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler above.
b. Discuss the standards that are inherent in Global Reporting Initiative (GRI).
c. Choose a company listed on the ASX and discuss how the company has disclosed Corporate Social Responsible (CSR) issues. Refer to instruction 2 below.
d. Evaluate your company performance in relation to GRI standards and comment on Stigler's theory
Instructions
1. The research essay is to be conducted in groups of two. Students do not have the option to extend or reduce the size of the group.
2. Each group must choose a different company listed on the ASX. Discuss you chosen company with your lecturer/tutor to ensure there is no duplication.
3. Assignments must not exceed the word counts indicated.
4. Your assignment must include an abstract/synopsis, introduction, essay body that clearly addresses the problem areas, a conclusion and a properly referenced (refer to the research essay marking guide for further guidance)
5. Evidence of extensive research beyond the prescribed text is required. Ensure these are referenced. Refer to the University of Ballarat's policy on plagiarism.
6. NO extensions will be granted unless supported by appropriate documentation prior to the due date.
7. The group assignment will be due in week 10 of the semester; your lecturer will advise you of the time and date. Assignments that are submitted late will be penalised at the rate of 10% per day.