The Copenhagen Charter, a management guide to
stakeholder reporting, was launched at the third international
conference on social and ethical accounting, auditing and reporting, 1999.
It was published jointly by Ernst & Young, KPMG, PricewaterhouseCoopers and
the House of Mandag Morgen.
The basic assumption underlying the Charter is
that the process of stakeholder dialogue and reporting must be embedded
throughout the organization, in the
of the company, and in management and corporate governance systems. The
vision, mission and values are both the foundation of the
and the outcome of it, in that stakeholder reporting enables management to
test that they meet stakeholders' expectations. The process is envisaged as
a feedback loop involving eight steps.