Accounting

Introduction
Accounting firms, just like any other for-profit business entity, engage in a wide range of operational activities and are affected by the existing regulations. Yet, the culture and ethics of accounting firms are also subject to closer analysis from the standpoint of sustainability and corporate social responsibility. The literature review on the issue of sustainability suggests that accounting firms can benefit from including corporate social responsibility activities in their strategic planning, playing the leading role in enforcing mandatory CSR reporting standards.

Accounting firms can benefit from adopting a socially responsible culture

The recent report published by Deloitte revealed the findings of the survey conducted on 350 business leaders, according to which 93 percent of the respondents think companies’ employees are not just workers but are societal stewards (Deloitteeditor, 2019). This finding indicates that socially responsible business is about making a positive impact on topics of concern for the public and local communities. In a broader context, this finding implies that profit and socially responsible purposes can coexist in accounting firms as well. The business culture characterized by strong social orientation results in better employee retention and extensive positive changes in targeted communities. Consequently, it is both ethical and profitable for companies to sustain a culture that promotes social activism among employees. Chong (2017) indicate that the younger consumers do pay attention to the CSR activities of the company because they believe that business entities should generate value to the community. By making a purchase or paying for the service, younger consumers want to feel their choice is meaningful. Similarly, Banham (2019) noted that companies with strong CSR orientation have a more positive reputation, loyal employees, and long-term strategic planning.