This paper analyses the impact of Italian Legislative Decree 32/2007 -following the 2003/51 European Directive -and the disclosure of environmental and employee matters in terms of overall volume, completeness of information, presence of bad/good news and target-oriented information. Content analysis has been applied to all Italian corporate groups that made public both the consolidated annual report and the stand-alone social and environmental report in 2005 and in 2010, for a total of 96 reports. The results show that despite the overall increase in sentences devoted to environmental and employee matters, the completeness of the information has not substantially improved, indicating that the 2007 regulation has been ineffective. The Italian experience could provide useful insights for European regulators. Such insights may inform policy recommendations to design a mandated social and environmental accountability process with the potential of providing information to societal stakeholders while facilitating accountability.

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This article closely examines the Sunbeam Corporation’s path to failure and explores the reasons for its singularity. From the analysis of US fraud cases included in the UCLA-LoPucki Bankruptcy Research Database, this corporate case appears as an outlier. For Sunbeam, the time-lapse between fraud disclosure and its final bankruptcy is the longest of the entire sample; it is unique because of its length. This article uses a historical microanalysis to evaluate different hypotheses about the Sunbeam Corporation’s path to failure. The relationships between acquisitions and fraud, ‘scapegoat dynamics’ and ‘creative auditing’ are identified as the most relevant issues to be examined against a changing institutional context. The resulting reconstruction of the events provides unexpected insights and recommendations for future research on auditing and accounting fraud

Small and medium enterprises (SMEs) have a prominent role in both the European and the Italian economies, but their approach towards corporate social responsibility (CSR) and sustainability is still underdeveloped. The reasons are mainly related to perceived low economic returns, lack of enforced compliance of the legislation, limited financial and practical support. In overcoming these problems, the role of small and medium practices (SMPs) can be determinant due to the relationship between SMEs and their (not only accounting) consultants. This chapter focuses on SMPs' role in promoting SMEs' initiatives and also considers the academic debate about their sustainability reporting. The investigation of this stream of research and the results of a web survey (involving SMPs in the Northeast of Italy) emphasize how SMPs can support SMEs' sustainable practices and reporting.

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