Social Audit for Raising CSR Performance of Banking Corporations in Bangladesh

Md. Tarikul Islam ()
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Md. Tarikul Islam: Queensland University of Technology

A chapter in Social Audit Regulation, 2015, pp 107-130 from Springer

Abstract: Abstract Social audit, a mechanism to check corporations’ social responsibility performance, can ensure that organizations stay firm on their social commitments rather than greenwashing by creating a multi party communication platform where stakeholders get chance to crosscheck firms’ performances for social causes, for example, CSR. In the absence of mechanism in corporate regulation and a well designed framework, corporations try to maintain their social performance similar to their business performance i.e. profit purpose driven. Using the Bangladesh banking sector as a case study, this chapter assesses the role of an effective social audit in raising meaningful social responsibility performance of corporations in a developing country context. It suggests that the regulatory framework for the banking corporations in Bangladesh should focus on developing a culture that embraces social auditing, so that corporations are expected to align their CSR expenditures with social expectations. Such a development would also assist the stakeholders of these corporations in making informed decisions.

Keywords: Corporate Social Responsibility; Banking Sector; Corporate Social Responsibility Activity; Corporate Social Responsibility Initiative; Corporate Social Responsibility Practice (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-319-15838-9_6

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DOI: 10.1007/978-3-319-15838-9_6

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