American Journal of Economics, Finance and Management
Articles Information
American Journal of Economics, Finance and Management, Vol.3, No.3, Jun. 2017, Pub. Date: Aug. 28, 2017
Accounting on Social and Environmental Reporting in the Extractive Industry of Ghana: Perspective of Mining Staffs
Pages: 20-32 Views: 69 Downloads: 47
Authors
[01] Charles Adusei, Department of Accounting, Finance and Banking, Garden City University College, Kumasi, Ghana.
Abstract
This paper studied the benefits, drivers and challenges of social and environmental reporting in the mining sector using Newmont Ghana as a case study. Respondents were surveyed to determine their perceptions on issues pertaining to social and environmental accounting and reporting whiles archival study was done using their annual reports and other documents between the period of 2009 and 2015. Based on descriptive statistics and Kendall Coefficient of Concordance, the study revealed that the level of disclosure increased during the period. The major benefits of social and environmental reporting were community support and cost savings, its key drivers were stakeholder pressure and the extent of regulations and challenges as fear of unknown and limited appeal of the report. The study recommends that firms must report on their social and environmental activities even if it is negative.
Keywords
Social and Environmental Issues, Mining, Extractive Industry, Newmont Ghana Limited
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