the
evolutionary process.
The goal of this article was to add to the limited academic
literature on the evolution of CSR reporting standards.
The comparison of the evolution of financial
reporting to CSR reporting identified some similarities and
differences. There were key moments that were instrumental
in the growth and development of financial
reporting. Some of these defining moments have yet to take
place in the development of CSR reporting; 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 different and 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. For comparison purposes a summary of these
evolutionary processes is provided in Table