The paper 'National Australia Bank Limited and Australia & New Zealand Banking Corporate Social Responsibility " is an outstanding example of a finance and accounting case study. Increasing regulations which are aimed at ensuring that overall effectiveness can be gained has increased the importance of being ethical and adhering to the different statutory requirements. The Global Reporting Initiative (GRI) which has been adapted from the Generally Accepted Accounting Principles (GAAP) looks to fill up the gap which exists so that better sustainability can be ensured in the financial reports which are published.
This report analyzes the two different organizations from the banking sector in Australia to find out the manner in which GRI requirements have been achieved using the G3 framework and the manner in which sustainability has been achieved. To carry out the study National Australia Bank Limited and Australia & New Zealand Banking Group Limited have been selected. The report will make a comparison between the above two stated banks and will bring forward the different areas where both the bank have ensured their adherence to the GRI Index and G3 framework and the areas where they are lacking after identifying the potential stakeholders.
This will thereby help to understand the strength of the sustainability report and will help to bring forward the different areas which have to be improved for better performance. Basic Information about banks Australia Bank Limited and Australia (ANZ) & New Zealand Banking Group Limited (NAB) are banks which work in the service sector in Australia and have looked towards dealing in different products and services which have increased their presence all over the region.
The bank has looked towards adhering to the G3 guidelines and has taken steps to ensure that the sustainability report is prepared according to the GRI guidelines. This will help the stakeholders to understand about the banking sector in a better manner and will help to help to bring forward the different areas which have to be improved for better functioning and will determine the process through which service quality will improve. ANZ & NAB Stakeholders Australia Bank Limited and Australia & New Zealand Banking Group Limited both work in the same sector i. e.
banking has looked towards identifying the different stakeholders which includes society, industry, government, consumers, employees and the shareholders. Both the banks have relied on services to develop the required relationship with the customer by focusing on understanding the needs and requirements of the stakeholders and developing their services accordingly so that maximum satisfaction for the stakeholders becomes possible (Clarkson, Li, Richardson & Vasvari, 2008). This has helped both Australia Bank Limited and Australia & New Zealand Banking Group Limited to ensure that they develop the sustainability report which highlights the different areas where they have adhered to the GRI guidelines and have followed the G3 framework so that the stakeholders are able to understand the entire scenario properly.
Both the organization have provided a corporate social responsibility report to find out the manner in which the different aspect of sustainability has been achieved so that the stakeholders are able to identify and understand the different aspects clearly (Pedrini, 2007). ANZ & NAB Corporate Social Responsibility Report Australia Bank Limited and Australia & New Zealand Banking Group Limited have provided the different disclosures which ensure that the sustainability report is as per the GRI guidelines and follows the G3 framework so that better transparency and honesty can be maintained with the stakeholders.
Identifying the different areas and highlighting the same has ensured that both Australia Bank Limited and Australia & New Zealand Banking Group Limited works according to the B level of reporting thereby highlighting the low level of the disclosure being followed by the banks and is as follows
NAB. (2013). Australia Bank Limited. Retrieved on May 14, 2013 from http://www.nab.com.au/
ANZ. (2013). Australia & NewZealand Banking Group Limited. Retrieved on May 14, 2013 from http://www.anz.com/personal/
Clarkson, P.M., Y. Li, G. D. Richardson & F. P. Vasvari (2008). Revisiting the relation between environmental performance and environmental disclosure: an empirical analysis. Accounting, Organizations and Society. 33 (4-5), 303-327
Pedrini, M. (2007). Human capital convergences in intellectual capital and sustainability reports. Journal of Intellectual Capital. 8 (2); 346