A comparative analysis of sustainability reporting and assurance of Johannesburg Security Exchange (JSE, 2010 – 2015) listed mining and retail companies

Abstract

The world is faced with challenges in all three areas of sustainable development—economic, social and environmental. More than 2 billion people are living in extreme poverty; income inequality within and among many countries has also been on the rise. Such countries include South Africa, which is battling with triple social challenges, namely, inequality, poverty and unemployment. Some of these social problems are caused by unsustainable consumption and use of natural resources. Thus, achieving sustainable development requires global actions that will deliver on the legitimate aspiration of the people. Such interventions should advance economic and social lives of the individuals whilst strengthening and protecting the environment. Therefore, a study was con ducted on selected Johannesburg Security Exchange (JSE) listed companies. The aim of the study was to conduct a comparative analysis of sustainability reporting and assurance of JSE listed mining and retail companies. The study used literature review as well as integrated annual reports of selected mining and retail companies, to evaluate if those companies have complied with the recommendations/standards of King III, AA 1000AS, ISAE 3000 and those of Companies Act. One of the major findings in the study was that mining and retail companies adopted assurance sustainability standards from different practitioners. Most of the standards used were from the big five (5) audit firms in South Africa, namely, KPMG, PWC, SNG, ERNST & YOUNG AND DELIOTTE and TOUCHE. The sectors also adhered to King III Reporting guidelines and AA1000AS. The study recommended improvements on sustainability and assurance reporting.