THE REPORTING OF NON-FINANCIAL INFORMATION AND THE RATIONALE FOR ITS STANDARDISATION


Ekonomika a management

THE REPORTING OF NON-FINANCIAL INFORMATION AND THE RATIONALE FOR ITS STANDARDISATION

CSR (Corporate Social Responsibility) is an important part of communication with stakeholders and a response to the need for non-financial reports. Regrettably the rules of non-financial reporting are not regulated – except by Directive 2014/95/EU, which will apply to large enterprises of public interest, and which must be introduced by the member states by 6 December 2016. CSR reports are drafted using a variety of principles and guidelines, which limits comparisons across enterprises, transparency and the assessment of progress made on the realisation of CSR goals.
Jméno a příjmení autora:

Peter Krištofík, Marzanna Lament, Hussam Musa

Rok:
2016
Ročník:
19
Číslo:
2
Klíčová slova:
Corporate Social Responsibility, reporting, management
DOI (& full text):
Anotace:
CSR (Corporate Social Responsibility) is an important part of communication with stakeholders and a response to the need for non-financial reports. Regrettably, the rules of non-financial reporting are…více
CSR (Corporate Social Responsibility) is an important part of communication with stakeholders and a response to the need for non-financial reports. Regrettably, the rules of non-financial reporting are almost not regulated. CSR reports are drafted using a variety of principles and guidelines, which limits comparisons across enterprises, transparency and assessment of progress.
The reasons for reporting non-financial information cited in the specialist literature, and by enterprises preparing CSR reports are examined, and the benefits of standardising reports of nonfinancial information are determined.
The literature review and empirical research into the motivations for CSR reporting and the trends in reporting of non-financial information helped to verify the initial hypotheses:
1. Communication with stakeholders is the fundamental reason for reporting non-financial information. This is confirmed by the literature review, with most authors believing this is the prime reason for preparing CSR reports. Authors indicating other motivations still treat it as the fundamental cause which exists jointly with other motivations.
2. The need to standardise CSR reporting to ensure its transparency and clarity is noted by reporting organisations. This is proven by surveys of organisations drafting CSR reports – approximately 80% of all reports follow the GRI guidelines. This means the reporting enterprises wish their reports to be clear, transparent and comparable and for their stakeholders to be able to fully satisfy their information requirements. This is also evidence of the care for good relations with stakeholders, who receive standardised data although this is not binding on enterprises. A growing tendency for CSR reporting to follow guidelines other than the GRI can be noted in the entire period under analysis. This will not necessarily be a single compulsory standard, yet a model report would need to be followed to assure transparency and comparability.
The Regulations of the Directive 2014/95/EU are a step forward since they will help to standardise rules of reporting non-financial information and will improve its transparency and utility.
Sekce:
Ekonomika a management

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