such as an event that legitimizes a CSR reporting
standard or gives CSR reporting global recognition. The
evolutionary process may not follow the same path as
financial reporting did due to the varying stakeholders
involved. However, there are enough similarities that still
make the evolution of financial reporting a useful comparative
tool to analyze the potential growth and development
of CSR reporting. Financial reporting has evolved
into a comparable and reliable market-based resource over
the last 100 years. Relative to this timeline CSR reporting
is still in its infancy. CSR reporting has come a long way
since early reports were first issued, but there remain many
deficiencies in comparability, consistency, reliability, and
relevance. The results of this comparison provide some
insight on the possible future development of CSR
reporting. Our goal is that this paper contributes to an