Accountability on Sustainability in Central and Eastern Europe: An Empirical Assessment of Sustainability-Related Assurance

Pasko, Oleh; Balla, Inna; Levytska, Inna; Semenyshena, Nataliia

doi:10.18778/1508-2008.24.20

Cited by 10 publications

(6 citation statements)

References 44 publications

(94 reference statements)

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“…According to O. Pasko et al (2021), prompt and high-quality monitoring of the financial activities of enterprises in the agricultural sector allows effectively obtaining objective and complete information necessary for a comprehensive analysis of various aspects of the financial activities of these organisations.…”

Section: Type Of Financialmentioning

confidence: 99%

Directions of Monitoring the Financial Activity of Agricultural Enterprises

KRASNOSTANOVA¹,

YATSKEVYCH²,

ZHURAVEL³

et al. 2022

Scientific Horizons

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The relevance of this study is conditioned upon the special importance of accounting reports in financial performance assessment of organisations that form the basis of the agricultural sector of the state and the need to find effective ways to improve the procedure for conducting such reporting activities and improve its quality. The purpose of this study is to analyse the principal areas of accounting for the financial aspects of the activities of modern agricultural enterprises. The leading research methods are systematic analysis, analytical comparison, and synthesis. The theoretical framework of this study included the papers on the pressing issues of accounting and analysis of financial results of agricultural enterprises, in the context of assessing profits and losses of these structures. The grouping of financial results by the composition of the elements that form them were considered. The main indicators used to assess the financial stability of an agricultural enterprise are availability of net working capital, coefficient of autonomy, manoeuvrability coefficient, ratio of borrowed and own funds, coefficient of provision of net working capital, financing ratio, financial stability coefficient. The types of current financial stability are absolute, normal, unstable financial condition, budgetary crisis. The real opportunities to improve the procedure for keeping financial statements at enterprises of the agricultural sector of the economy were found, especially in the field of assessing the profits received by these organisations during their activities. The results and conclusions of the article are important for representatives of accounting departments of agro-industrial enterprises, and for representatives of government agencies controlling their activities. It was concluded that there is no single method for assessing the financial condition

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Section: Type Of Financialmentioning

confidence: 99%

Directions of Monitoring the Financial Activity of Agricultural Enterprises

KRASNOSTANOVA¹,

YATSKEVYCH²,

ZHURAVEL³

et al. 2022

Scientific Horizons

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“…This linkage is of paramount importance in terms of further development of sustainability reporting and sustainability-related stances companies take. The next stage in the development of SR is a leap from quantity to quality, and in this matter, corporate governance and board attributes play a key role, because it is recognized that in many cases firms are incentivized to report on sustainability intending to conceal their other corporate malpractice, like earning management (Pasko et al, 2021a).…”

Section: Introductionmentioning

confidence: 99%

Sustainability reporting nexus to corporate governance in scholarly literature

Pasko

Chen

Kuts

et al. 2022

Environmental Economics

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Sustainability reporting has become a practice of the majority and is decided by boards of directors as the supreme governing body in the decision-making process of companies. The paper provides a high-view picture and visualizes research to portray the historical shifts in sustainability reporting nexus to corporate governance through an analysis utilizing CiteSpace software on 935 articles published in Web of Science Core Collection from 2009 to 2021.The number of papers in the area has expanded, especially since 2013 (a branching point), while the study determines a type of bifurcation spot (the year 2017) that evinces the SR-CG field maturity. The study determined the dominant countries through affiliated to them researchers (the United Kingdom, Spain, Italy, China and Australia), the most esteemed journals (Journal of Business Ethics, Business Strategy and the Environment and Accounting, Auditing &amp; Accountability Journal), and the major co-occurrence of hot keywords (carbon disclosure project, environmental disclosure quality, integrated reporting, financial performance, foreign director, environmental reporting, public sector, sustainability assurance statement). The paper identifies principal issues where SR-CG research lags (dearth of those research in developing economies and geographical limitation of research) and unravels uncharted so far domains (jurisdictions-related studies) in the realm. Future research in the realm is likely to focus on ESG, disclosures and governance performance, as well as on specific areas (geography, industry, etc.), and will explore in depth the role of multiple factors together. This papers indicate the growing convergence between SR and CG in literature, and given predominance of ‘SR as a function of CG’ approach a more stalwart and sound CG framework could bring about more tenable SR practices. The paper puts forward an agenda for advancing forthcoming research in the realm of SR-CG interdependence. AcknowledgmentThis paper is co-funded by European Union through the European Education and Culture Executive Agency (EACEA) within the project “EU BEST PRACTICE OF LIFE CYCLE ASSESSMENT, SOCIAL, ENVIRONMENTAL ACCOUNTING AND SUSTAINABILITY REPORTING” 101047667 — EULASTING — ERASMUS-JMO-2021-HEI-TCH-RSCH https://bit.ly/3Bbvquw

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“…This external verification process incurs extra costs that companies will only be predisposed to cover if they can discern that this will bring them some benefits (Miralles Quirós et al, 2021). Independent third-party assurance of the content and structure of CSRR is intended to improve the relevance, reliability and comparability of these reports and, for this reason, increase the overall credibility of CSRR (De Beelde & Tuybens, 2015; Maroun & Prinsloo, 2020; Pasko, Balla, et al, 2021;Simnett, 2012;Zorio et al, 2013). However, the unregulated and loosely controlled nature of the assurance process, the presence of several varying standards for CSRA (as well as the scope and level of assurance), panoply of assurance providers entails that the assurance can vary significantly (De Beelde & Tuybens, 2015; Perego & Kolk, 2012).…”

Section: Introductionmentioning

confidence: 99%

Does external assurance on CSR reporting contribute to its higher quality? Empirical evidence from China

Pasko

Zhang²,

Bezverkhyi

et al. 2021

Investment Management and Financial Innovations

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This paper examines the difference that the assurance brings to the quality of CSR reports in the Chinese institutional setting, in particular, the difference in quality (proxy – RKS ranking) of assured and unassured CSR reports, as well as whether the high ownership concentration and corresponding to it “entrenchment effect” obstruct the positive impact the assurance exerts on the quality of CSR reports. The paper examines CSR reports on 2,292 firm-year observations of large Chinese companies over three years (2015–2018). The hypothesis development process predicates on the signaling and stakeholder theories, whilst this study applies regression analysis to test the hypotheses. Consistent with the predictions of signaling and stakeholder theories, the paper finds that assurance contributes to the higher quality of CSR reports. Moreover, the study finds that assured CSR reports have higher sub-scores in all four aspects of RKS ranking. However, as ownership concentration exceeds 50 per cent and reaches the majority, it thwarts the advancement in the quality of CSR reports through its assurance. The paper provides an initial empirical account of the role of assurance in the emerging CSR reporting practice in China. The paper contributes to the modest body of empirical research on the function of external assurance in the CSR area by explicating the role played both by the accounting (external assurance) and corporate governance (ownership concentration) infrastructure to ensure high quality of CSR reporting. The paper briefs local, international regulatory authorities and the business community about the importance of external assurance for the CSR reporting quality.

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Accountability on Sustainability in Central and Eastern Europe: An Empirical Assessment of Sustainability-Related Assurance

Cited by 10 publications

References 44 publications

Directions of Monitoring the Financial Activity of Agricultural Enterprises

Directions of Monitoring the Financial Activity of Agricultural Enterprises

Sustainability reporting nexus to corporate governance in scholarly literature

Does external assurance on CSR reporting contribute to its higher quality? Empirical evidence from China

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