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Non-Financial Reporting In Emerging Economies Central and South-East Europe

In: 2nd International Conference Global Ethics - Key of Sustainability (GEKoS)

Author

Listed:
  • Aurel Lupu

    (University “1 Decembrie 1918†of Alba Iulia, Romania)

  • Raluca Ivan

    (University “1 Decembrie 1918†of Alba Iulia, Romania)

Abstract

The research currently presented is related to non-financial reporting and the prevailing reporting practices employed by enterprises posing risks to the environment. The worldwide economy is in a continuous change and the companies must face all the new challenges to assure a good development of their business. One of the most pressing challenge is related to the reporting of information in an integrate form. It is considered that the traditional model of financial reporting does not represent a comprehensive image to assess the previous and future performance of a company. According to the Directive 2014/95/EU regulations, reporting of non-financial information encompasses three major areas: environmental, social, and labour. Each is equally important, though environmental issues seem of particular significance in enterprises posing risks to the environment. The natural environment and its protection are important from the viewpoint of future generations. The transition from voluntary disclosure of non-financial information to mandatory regulation in the EU has taken place due to continuous increasing needs to have more transparency and rigor of information disclosed by companies. Indeed, voluntary reporting of CSR has many aspects of weakness, it is difficult to compare the information of different companies; it is a tool to avoid regulation; lack of execution and accountability; and leads to rhetoric, as corporations continue to create many problems for society.

Suggested Citation

  • Aurel Lupu & Raluca Ivan, 2021. "Non-Financial Reporting In Emerging Economies Central and South-East Europe," Book chapters-LUMEN Proceedings, in: Adriana Grigorescu & Valentin Radu (ed.), 2nd International Conference Global Ethics - Key of Sustainability (GEKoS), edition 1, volume 15, chapter 8, pages 94-101, Editura Lumen.
    • Handle: RePEc:lum:prchap:15-08
    DOI: https://doi.org/10.18662/lumproc/gekos2021/8
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    References listed on IDEAS

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    1. Olimpia Neagu, 2020. "Does Globalisation Promote Sustainable Development and an Equal Distribution of Income around the World? An Econometric and Ethical View," Book chapters-LUMEN Proceedings, in: Adriana Grigorescu & Valentin Radu (ed.), 1st International Conference Global Ethics - Key of Sustainability (GEKoS), edition 1, volume 11, chapter 7, pages 56-64, Editura Lumen.
    2. Adriana Grigorescu & Valentin Radu (ed.), 2020. "1st International Conference Global Ethics - Key of Sustainability (GEKoS)," Books - LUMEN Proceedings, Editura Lumen, edition 1, volume 11, number 11, August.
    3. Maurizio Massaro & John Dumay & James Guthrie, 2016. "On the shoulders of giants: undertaking a structured literature review in accounting," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 29(5), pages 767-801, June.
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    More about this item

    Keywords

    non-financial reporting (NFR); non-financial information (NFI) integrated reporting; corporate social responsibility (CSR) reporting; sustainability reporting; environmental reporting;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics
    • M5 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies

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