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Social Audit for Raising CSR Performance of Banking Corporations in Bangladesh

In: Social Audit Regulation

Author

Listed:
  • Md. Tarikul Islam

    (Queensland University of Technology)

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.

Suggested Citation

  • Md. Tarikul Islam, 2015. "Social Audit for Raising CSR Performance of Banking Corporations in Bangladesh," CSR, Sustainability, Ethics & Governance, in: Mia Mahmudur Rahim & Samuel O. Idowu (ed.), Social Audit Regulation, edition 127, pages 107-130, Springer.
    • Handle: RePEc:spr:csrchp:978-3-319-15838-9_6
    DOI: 10.1007/978-3-319-15838-9_6
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