GRI Regulatory Compliance & Ethical Standards 2

Question 1

Under GRI Standards, which principle requires organizations to report on topics that reflect their significant economic, environmental, and social impacts?

Accepted Answer

Materiality

Answer

The Materiality principle requires organizations to report on topics that represent their most significant impacts on the economy, environment, and people.

Question 2

When an organization discovers it has made a material error in a prior GRI report, what is the ethically required course of action?

Accepted Answer

Issue a restatement and disclose the reason for the change

Answer

GRI's accuracy and transparency principles require organizations to issue a restatement and disclose the nature and reason for any material corrections.

Question 3

Which GRI Standard specifically addresses anti-corruption disclosures, including training and confirmed incidents?

Accepted Answer

GRI 205

Answer

GRI 205: Anti-corruption covers disclosures on anti-corruption policies, training programs, and confirmed incidents of corruption.

Question 4

A company operates in a country where local law permits a practice that violates GRI's ethical standards. Under GRI guidance, what should the organization do?

Accepted Answer

Apply the stricter GRI standard and disclose the conflict

Answer

GRI expects organizations to apply the highest applicable standard and disclose any conflicts between local law and GRI reporting requirements.

Question 5

What does the GRI concept of 'double materiality' encompass?

Accepted Answer

Considering both the impact of the organization on sustainability AND the impact of sustainability on the organization

Answer

Double materiality considers impacts flowing in both directions: how the organization affects sustainability issues, and how sustainability issues affect the organization's financial performance.

(GRI) Global Reporting Initiative Professional Certification Practice Test

(GRI) Global Reporting Initiative Professional Certification Practice Test

GRI Regulatory Compliance & Ethical Standards 2