Social responsibility as the dominant driver of the evolution of reporting from financial to non-financial: theory and methodology

Abstract

Introduction. For over half a century, corporate social responsibility has been in the center of scientific discourse. Its basic concept has become part of strategic management, changing the content of financial reporting and leading to new forms of corporate reporting.
 Study objects and methods. The article substantiated the importance of studying corporate social responsibility (CSR) concepts and national models. The study covered the CSR basic concept, targets and paradigms. The evolution of CSR was considered in terms of its impact on the formation of non-financial reporting.
 Results and discussion. The authors identified two stages of non-financial reporting development and two directions for the convergence of financial and non-financial reporting. They proposed an assessment matrix to measure facts, actions, and resources in the past, present, and future. This matrix can help companies to generate information for integrated reporting by showing the impact of each type of capital (financial, production, human, intellectual, social, and environmental) on their value creation. Within a promising direction for developing non-financial reporting in conjunction with financial reporting, the authors set requirements to reflect the impact of climate risks on the company’s activities in accordance with the recommendations of the Task Force on Climate-Related Financial Disclosures. The authors discussed both standardized and their own approaches to CSR indicators. Finally, they addressed the problem of reliability of non-financial reporting, discussed various forms of its verification (taking evidence from food industry enterprises), and set specific principles to control non-financial reporting indicators.
 Conclusion. The authors identified further promising areas of research in the theory and practice of CSR. Their findings can be used in scientific debates on CSR and in the practice of corporate reporting.

Informações Financeiras sobre os Riscos Relacionados ao Clima: Uma Revisão Sistemática

“…A adoção da prática de divulgação encontra dificuldades, devido à falta de um processo direto para análise de cenários sobre mudanças climáticas (Huiskamp et al, 2022). A garantia de confiabilidade dos relatórios não financeiros ainda é uma meta perseguida por pesquisadores, no que diz respeito a forma e o método de avaliação (Bychkova et al, 2021). A obrigatoriedade de divulgação de informações financeiras sobre os riscos relacionados ao clima, não necessariamente colherá os frutos que se deseja.…”

Assessment of the Current Trend in the Reporting of Sr-Business Contribution to Sustainable Development (On the Example of the Republic of Moldova and the Republic of Belarus)

“…Выделяются два пути модернизации отчетности: 1) раскрытие информации об исполнении социальной ответственности бизнеса в нефинансовой отчетности на основе качественных и количественных показателей; 2) этап конвергенции финансовых и нефинансовых отчетов на основе критического анализа их различий [5]. При отдельном представлении информации в нефинансовой отчетности (Отчет об устойчивом развитии и Интегрированная отчетность) инвесторы должны изучить один отчет за другим, что достаточно трудоемко, а для бизнеса составление таких отчетов, кроме того, требует и финансовых потерь [6].…”

“…При отдельном представлении информации в нефинансовой отчетности (Отчет об устойчивом развитии и Интегрированная отчетность) инвесторы должны изучить один отчет за другим, что достаточно трудоемко, а для бизнеса составление таких отчетов, кроме того, требует и финансовых потерь [6]. Более того, содержание указанных отчетов требует уточнения с точки зрения информационного периметра [5]. Реализация второго этапа возможна при формировании соответствующей для объединения информации концептуальной платформы.…”