Business Audit in ESG format: Up-Growth of the Corporate Reporting Verification Methodology

Bulyga, R. P.; Safonova, I. V.

doi:10.26794/2408-9303-2022-9-5-6-21

Cited by 3 publications

(1 citation statement)

References 10 publications

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“…To ensure such requests, the issue of certification and verification of non-financial reporting data is being actively discussed. Leading Russian scientists have already conducted a number of studies in this area and achieved certain results [9,10,11,12,13].…”

Section: Introductionmentioning

confidence: 99%

Analysis of the information verification model in non-financial reporting of oil and gas companies

Kolosova,

Leonova,

Bogataya

et al. 2023

E3S Web Conf.

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The article is aimed at investigating the current practice of verifying information in non-financial statements of oil and gas sector companies. The study is based on the analysis of the current regulatory framework for confirming “(certification)” of non-financial reporting, which is structured into two blocks: regulatory documents that define the requirements for the disclosure of information in non-financial reporting, applied at the international and national levels, and regulatory documents that define the requirements for the verification of non-financial reporting at the international and national levels. A comparative analysis of the main standards and recommendations used for disclosure of information in ESG reporting is carried out. Regulatory acts containing general requirements for disclosure of information about the activities of PJSC oil and gas complex in the Russian Federation are considered. The systematization of Russian regulations in the field of disclosure of information on sustainable development and ESG factors and structural elements of the annual report is carried out and the characteristics of the main regulations for conducting an independent audit of non-financial reporting are given. In the course of the study, a matrix of categories was developed that ensure the reliability of public reporting. The features of the verification practice of Russian oil and gas companies that are system-forming are considered. An overview of Russian companies disclosing non-financial information in accordance with GRI, SASB, TCFD and CDP standards is presented. Based on the conducted research, it is concluded that the current regulatory framework in the field of confirmation (assurance) of non-financial reporting requires improvement of the terminology and differentiation of the concepts of “verification”, “assurance”, “confirmation”, “audit”, in order to develop the practice of business audit of the XXI century. The study can be useful for managers and decision makers aimed at implementing the Concept of Sustainable Development and achieving Sustainable Development Goals.

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Section: Introductionmentioning

confidence: 99%

Analysis of the information verification model in non-financial reporting of oil and gas companies

Kolosova,

Leonova,

Bogataya

et al. 2023

E3S Web Conf.

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Development of Verification of non-financial reporting in Russia

Alekseeva

Zrozhevskaya

2023

Učët, analiz, audit

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The article is devoted to the audit of non-financial statements of commercial organizations. Currently, the significant increasing number of commercial organizations are forming and posting non-financial reports on their official websites, as well as on the websites of public organizations. Since there is no unified methodology for the formation of non-financial reporting in Russia, the problem of its audit arises in this regard. Audit of non-financial statements in the literature is called as verification, assurance (confirmation). The purpose of the article is to investigate the correlation between these concepts. The methodological basis of the study includes the Russian and foreign regulatory framework in the field of formation and verification of non-financial reporting of commercial organizations. The article provides an overview of the system of normative regulation of verification of non-financial reporting. The classification of types of verification of non-financial statements is also presented in the article. Based on the data of the Russian Union of Industrialists and Entrepreneurs (RSPP), a study was conducted on the number of Russian companies that passed public certification and verification from 2010 to 2020. The classification of types of conclusions and forms of conclusions based on the results of verification of non-financial statements of commercial organizations is proposed in the article. The theoretical and practical significance of the study lies in the justification and substantiation of the verification procedure of non-financial reporting and the choice of the optimal method or combination of its assurance (confirmation).

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Corporate ESG Information Disclosures

Morozova

2024

Učët, analiz, audit

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the purpose of the study was to assess the compliance of modern ESG reporting with the expectations formulated in the UN Global Compact (UNGC) report “Who Cares Wins”, and its subject is corporate ESG information as an element of improving the functioning of financial markets and society as a whole. The work used such general scientific research methods as analysis, abstraction, generalization, induction, and analogy. The author shows that despite the quantitative growth of ESG reports and the development of guidelines for the disclosure of ESG information, there are still difficulties and challenges in measuring the effectiveness of E&S activities and corporate ESG sustainability, and the interest in establishing and defining the connection between ESG and financial indicators continues; the concept of materiality in ESG reporting is characterized by a different and uneven ranking of priorities of ESG activities, as well as the distinction between financially material and financially non-material sustainability issues; currently, increasing the disclosure of corporate ESG information does not improve public confidence in sustainability efforts and results. In the course of the work, a review of publications on the measurement and disclosure of corporate ESG indicators was carried out. the conclusions drawn indicate that modern ESG reporting has partially overcome the shortcomings formulated in the UN Global Compact “Who Cares Wins”. Progress has been made in standardizing, measuring, disclosing, and publishing ESG information, but it is still considered to lack consistency and reliability. Moreover, it does not make a convincing case for its impact on company value. the results of the study — an analysis of the concept of strengthening the sustainability of financial markets and the role of ESG reporting — can be useful in theoretical research in the field of non-financial reporting.

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Business Audit in ESG format: Up-Growth of the Corporate Reporting Verification Methodology

Cited by 3 publications

References 10 publications

Analysis of the information verification model in non-financial reporting of oil and gas companies

Analysis of the information verification model in non-financial reporting of oil and gas companies

Development of Verification of non-financial reporting in Russia

Corporate ESG Information Disclosures

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