Professional Advisory Services and CSR Responsibilisation, Accountability and Transparency

Abstract

This chapter focuses on the critical corporate governance role of outsiders providing professional advisory services in promoting corporate social responsibility (CSR). It draws on insights from responsive regulation and institutional theories to make the case for including professional advisory services such as accounting and auditing firms, management consultancies, rating agencies, external company secretaries, and public relations, advertising and marketing firms in the CSR legal infrastructure. Proposing an inclusive and limited stakeholder approach, the chapter outlines creative ways for enabling the CSR responsibility, accountability and transparency of professional advisory services.