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Social Audit for Raising CSR Performance of Banking Corporations in Bangladesh

  • Chapter
Social Audit Regulation

Part of the book series: CSR, Sustainability, Ethics & Governance ((CSEG))

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.

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Authors and Affiliations

  1. QUT Business School, Queensland University of Technology, Brisbane, Australia

    Md. Tarikul Islam

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  1. Md. Tarikul Islam
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Correspondence to Md. Tarikul Islam .

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Editors and Affiliations

  1. QUT Business School, Queensland University of Technology, Brisbane, Queensland, Australia

    Mia Mahmudur Rahim

  2. London Guildhall Faculty of Business and Law, London Metropolitan University, London, United Kingdom

    Samuel O. Idowu

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Islam, M.T. (2015). Social Audit for Raising CSR Performance of Banking Corporations in Bangladesh. In: Rahim, M., Idowu, S. (eds) Social Audit Regulation. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-15838-9_6

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