Page 53 - DUT ICGA Abstract Book

THE ROLE OF OF INTERNAL AUDIT TO REPORT ON ON ONE ASPECT OF OF THE ENVIRONMENT SOCIAL AND GOVERNANCE Dr Dr Dr LF Jali Dr Dr Dr A Moodley and Dr Dr Dr H Maama
Durban University of of of of Technology Department Department of of of of Auditing & Taxation/Department of of of of Financial Accounting Faculty of of of of Accounting & Informatics South Africa Abstract
Environment Social and Governance (ESG) represents an an an evolution to the concept of corporate responsibility responsibility and sustainability commonly referred to as corporate social responsibility responsibility (CSR) ESG emerged from organisational sustainability management which founded on on the triple bottom line approach to to governance and reporting The triple-bottom line approach can be considered as the pioneering initiative that sought to to to also accord attention to to to social and environmental considerations in addition to to to shareholder returns Thus good governance principles such as those advocated by the the King IV Report and other influential literature requires companies to publish integrated reports that include information on on the three concepts of ESG Internal Auditing is a a a a a a a a tool that that provides assurance to to organizations that that the system of internal controls and and operating procedures designed and and implemented by management are adequate and and effective Internal auditing also provides assurance that internal controls and and operating systems effectively and and efficiently result in in the achievement of targets and and objectives by measuring performance at regular intervals Each ESG concept is measured using relevant metrics through technologies such as as Python RapidMiner Zoho Analytics The study is important to those who are charged with governance to understand the difficulties faced by internal auditing in in in in in assessing and and evaluating components of ESG because of their specialised nature ESG components include health and safety considerations which have now grown to include the community’s socio-economic wellbeing and resilience The aim of this paper is to identify the the role of of of internal audit in in in the the social aspect of of of ESG reporting Analyses of of of primary studies already conducted to identify challenges experienced by the internal audit in in in conducting assessments of ESG reporting with a a specific focus on on the social component KEYWORDS: controls environment social governance internal audit Book of Abstracts 51