Stigler's 'private interest theory' proposes that regulatory bodies (including accounting standard setters) are made up of individuals who are self-interested, and these individuals will introduce regulation that best serves their own self-interest. If regulators acted in 
accordance with the predictions provided by private interest theory of regulation, what is the likely of the introduction of regulation aimed at reducing the problems associated with climate change, particularly if business corporations opposed such regulations? 
Stigler, G. J. 1971, The politicisation of accounting, Journal of Accountancy, 146(5), pp. 65-72 
Required 

a. Compare the view espoused by the economist Milton Friedman about the social 
responsibilities of business with the views express by Stigler above. 
b. Discuss the standards that are inherent in Global Reporting Initiative (GRI). 
c. Choose a company listed on the ASX and discuss how the company has disclosed 
Corporate Social Responsible (CSR) issues. Refer to instruction 2 below. 
d. Evaluate your company performance in relation to GRI standards and comment on 
Stigler's theory