Viewpoints: Recognizing corporate social responsibility provisions (Mining)

Better understand when and how a mining company should recognize a corporate social responsibility (CSR) obligation.

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Often, mining organizations partner with communities in the regions in which they operate, on CSR initiatives such as:

  • improving local infrastructure
  • building new residences or schools
  • enhancing the water supply

Determining whether your mining organization should recognize a CSR obligation requires understanding the conditions set out by International Accounting Standard (IAS) 37 Provisions, Contingent Liabilities and Contingent Assets.

A joint paper by Chartered Professional Accountants of Canada (CPA Canada) and the Prospectors and Developers Association of Canada, Viewpoints: Applying IFRSs in the Mining Industry — Recognition of Corporate Social Responsibility Provisions Under IAS 37 will help you better understand your organization's obligations in this area.