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Implications of “Directive on Disclosure of Non-Financial and Diversity Information” on Croatian Companies’ Reporting System

Author

Listed:
  • Ksenija Cerne

    (Juraj Dobrila University of Pula, Faculty of economics and tourism)

  • Tea Hasic

    (Juraj Dobrila University of Pula, Faculty of economics and tourism)

  • Adriana Galant

    (Juraj Dobrila University of Pula, Faculty of economics and tourism)

Abstract

Implementation of Directive on disclosure of non-financial and diversity information in EU member states represents the first step in making this segment of reporting mandatory. Although, only some companies (mostly the largest undertakings and public interest entities) will be obligated to issue non-financial reports, the number of disclosed reports on corporate social responsibility and sustainability issues is expected to increase significantly. The Croatian Accounting Act has been adjusted to the requirements of this Directive, thus the non-financial reporting has become mandatory in Croatia, at least for some companies. However, compared to some other EU member states the number of companies obligated to prepare the non-financial report is higher due to wider definition of public interest companies. Currently, only a small proportion of Croatian companies disclose nonfinancial reports on voluntary basis. These are mostly large companies operating in manufacturing sector. However, the number of issued non-financial reports will increase in year 2017 as a result of mentioned Directive implementation.

Suggested Citation

  • Ksenija Cerne & Tea Hasic & Adriana Galant, 2017. "Implications of “Directive on Disclosure of Non-Financial and Diversity Information” on Croatian Companies’ Reporting System," MIC 2017: Managing the Global Economy; Proceedings of the Joint International Conference, Monastier di Treviso, Italy, 24–27 May 2017,, University of Primorska Press.
    • Handle: RePEc:prp:micp17:285-303
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