IDEAS home Printed from https://ideas.repec.org/a/ahd/journl/v6y2025i5p59-72.html
   My bibliography  Save this article

Unveiling Transparency: The Transformative Role of Whistleblowing in Shaping Financial Reporting and Disclosure Practices

Author

Listed:
  • Malvern MAGUNDWANI

    (Midlands State University, Zimbabwe)

  • Newman WADESANGO

    (University of Limpopo, Republic of South Africa)

  • Lovemore SITSHA

    (Midlands State University, Zimbabwe)

Abstract

This study explores the role of whistleblowing in enhancing financial reporting and disclosure practices within organizations, with a specific focus on the National Social Security Authority (NSSA). The research addresses the critical need for transparency and accountability in financial management, emphasizing how effective whistleblowing mechanisms can foster ethical behavior and improve financial integrity. Employing a quantitative approach, data was collected through structured questionnaires distributed to NSSA employees, allowing for empirical analysis of the relationship between whistleblowing practices and financial reporting quality. The findings reveal a significant positive correlation, indicating that robust whistleblowing policies encourage the reporting of financial misconduct and contribute to a culture of ethical compliance. These results suggest that organizations with effective whistleblowing frameworks are better positioned to produce reliable financial disclosures. The study advances existing literature by highlighting the importance of whistleblowing in promoting transparency and ethical standards within financial institutions. It recommends implementing comprehensive training programs and establishing anonymous reporting channels to increase employee participation and reporting accuracy. Overall, this research underscores the necessity of strong whistleblowing frameworks in fostering ethical organizational practices and enhancing financial accountability, providing valuable insights for policymakers and organizational leaders.

Suggested Citation

  • Malvern MAGUNDWANI & Newman WADESANGO & Lovemore SITSHA, 2025. "Unveiling Transparency: The Transformative Role of Whistleblowing in Shaping Financial Reporting and Disclosure Practices," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 6(5), pages 59-72, May.
    • Handle: RePEc:ahd:journl:v:6:y:2025:i:5:p:59-72
    DOI: 10.37945/cbr.2025.05.07
    as

    Download full text from publisher

    File URL: https://www.ceccarbusinessreview.ro/unveiling-transparency-the-transformative-role-of-whistleblowing-in-shaping-financial-reporting-and-disclosure-practices-a479d/download-PDF/
    Download Restriction: no
    File URL: https://www.ceccarbusinessreview.ro/unveiling-transparency-the-transformative-role-of-whistleblowing-in-shaping-financial-reporting-and-disclosure-practices-a479a/abstract/
    Download Restriction: no
    File URL: https://libkey.io/10.37945/cbr.2025.05.07?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ati Sumiati & Umi Widyastuti, 2021. "The Millennials Generation’S Intention To Invest: A Modified Model Of The Theory Of Reasoned Action," International Journal of Entrepreneurship, Allied Business Academies, vol. 25(3).
    2. Francesca Manes-Rossi & Giuseppe Nicolò & Daniela Argento, 2020. "Non-financial reporting formats in public sector organizations: a structured literature review," Journal of Public Budgeting, Accounting & Financial Management, Emerald Group Publishing Limited, vol. 32(4), pages 639-669, July.
    3. Filippo Vitolla & Nicola Raimo & Michele Rubino, 2020. "Board characteristics and integrated reporting quality: an agency theory perspective," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(2), pages 1152-1163, March.
    4. Nanang Shonhadji & Ach Maulidi, 2021. "The roles of whistleblowing system and fraud awareness as financial statement fraud deterrent," International Journal of Ethics and Systems, Emerald Group Publishing Limited, vol. 37(3), pages 370-389, February.
    5. repec:eme:ijoes0:ijoes-09-2020-0140 is not listed on IDEAS
    6. repec:eme:jal000:j.acclit.2017.05.001 is not listed on IDEAS
    7. Matteo La Torre & Svetlana Sabelfeld & Marita Blomkvist & John Dumay, 2020. "Rebuilding trust: sustainability and non-financial reporting and the European Union regulation," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 28(5), pages 701-725, August.
    8. Yulan, Zheng & Li, Ao & Yan, Zehao & Bai, Yuxin & Chen, Sicen, 2024. "Does employee whistleblowing inhibit corporate pollutant emission," International Review of Financial Analysis, Elsevier, vol. 91(C).
    9. Nadia Smaili & Wim Vandekerckhove & Paulina Arroyo Pardo, 2023. "Handling Whistleblowing Reports: The Complexity of the Double Agent," Journal of Business Ethics, Springer, vol. 186(2), pages 279-292, August.
    10. Gao, Lei & Brink, Alisa G., 2017. "Whistleblowing studies in accounting research: A review of experimental studies on the determinants of whistleblowing," Journal of Accounting Literature, Elsevier, vol. 38(C), pages 1-13.
    11. Shahir Akram Hassan & Wan Mohd Khairul Firdaus Wan Khairuldin, 2020. "Research Design Based on Fatwa Making Process: An Exploratory Study," International Journal of Higher Education, Sciedu Press, vol. 9(6), pages 241-241, December.
    12. Vedrana Sember & Kaja Meh & Maroje Sorić & Gregor Starc & Paulo Rocha & Gregor Jurak, 2020. "Validity and Reliability of International Physical Activity Questionnaires for Adults across EU Countries: Systematic Review and Meta Analysis," IJERPH, MDPI, vol. 17(19), pages 1-23, September.
    13. Oliver Nnamdi Okafor & Festus A. Adebisi & Michael Opara & Chidinma Blessing Okafor, 2020. "Deployment of whistleblowing as an accountability mechanism to curb corruption and fraud in a developing democracy," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 33(6), pages 1335-1366, June.
    14. Nicola Raimo & Filippo Vitolla & Arcangelo Marrone & Michele Rubino, 2021. "Do audit committee attributes influence integrated reporting quality? An agency theory viewpoint," Business Strategy and the Environment, Wiley Blackwell, vol. 30(1), pages 522-534, January.
    15. repec:eme:aaaj00:aaaj-12-2018-3780 is not listed on IDEAS
    16. Lei Gao & Alisa G. Brink, 2017. "Whistleblowing studies in accounting research: A review of experimental studies on the determinants of whistleblowing," Journal of Accounting Literature, Emerald Group Publishing Limited, vol. 38(1), pages 1-13, May.
    17. Aurora Liu Genin & Justin Tan & Juan Song, 2021. "State governance and technological innovation in emerging economies: State-owned enterprise restructuration and institutional logic dissonance in China’s high-speed train sector," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(4), pages 621-645, June.
    18. Emad Awadallah & Adel Elgharbawy, 2021. "Utilizing the theory of reasoned action in understanding students’ choice in selecting accounting as major," Accounting Education, Taylor & Francis Journals, vol. 30(1), pages 86-106, January.
    19. Arkorful, Vincent Ekow, 2022. "Unravelling electricity theft whistleblowing antecedents using the theory of planned behavior and norm activation model," Energy Policy, Elsevier, vol. 160(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Paulina Arroyo & Leslie Berger & Nadia Smaili, 2025. "Navigating Between Control and Trust: The Whistleblowing Mindset," Journal of Business Ethics, Springer, vol. 199(1), pages 19-35, June.
    2. Hanen Khemakhem & Richard Fontaine & Nadia Smaili & Mahbub Zaman, 2023. "Whistleblowing regulations and the role of audit committees: insight from interviews," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 27(1), pages 131-151, March.
    3. Nicola Raimo & Filippo Vitolla & Valentina Minutiello & Arcangelo Marrone & Patrizia Tettamanzi, 2022. "Readability of integrated reports: Evidence from worldwide adopters," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(3), pages 524-534, May.
    4. Vitolla, Filippo & Raimo, Nicola & Campobasso, Francesco & Giakoumelou, Anastasia, 2023. "Risk disclosure in sustainability reports: Empirical evidence from the energy sector," Utilities Policy, Elsevier, vol. 82(C).
    5. Yu, Huaibing, 2024. "Why isn't composite equity issuance favored by the stock market? A risk-based explanation for the anomaly," International Review of Financial Analysis, Elsevier, vol. 94(C).
    6. Jin, Shaorong & Xiong, Ruoyu & Peng, Huan & Tang, Shiyu, 2025. "ESG performance and private enterprise resilience: Evidence from Chinese financial markets," International Review of Financial Analysis, Elsevier, vol. 98(C).
    7. Vitiana L'Abate & Nicola Raimo & Francesco Albergo & Filippo Vitolla, 2024. "Social media to disseminate circular economy information. An empirical analysis on Twitter," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 528-539, January.
    8. NingShan Hao & Voicu D. Dragomir & Oana Marina Radu, 2023. "Effects on Corporate Stakeholders and Limitations of The Implementation of The Non-Financial Reporting Directive (2014/95/EU)," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 22(4), pages 609-630, December.
    9. Irzan Bin Ismail & Noorazura Durani & Wan Azfarozza Wan Athmar & Mohamad Idham Md Razak & Helmy Fadlisham Abu Hassan, 2023. "Examining Relationships between Employees’ Attributes and Act of Whistleblowing," Information Management and Business Review, AMH International, vol. 15(4), pages 49-58.
    10. Peipei Pan & Chris Patel, 2024. "Do Internal Auditors Make Consistent Ethical Judgments in English and Chinese in Reporting Wrongdoing?," Journal of Business Ethics, Springer, vol. 194(2), pages 433-453, October.
    11. Hanna Czaja-Cieszynska, 2021. "Determination Climate-Related Information Reporting on the Example of Selected Polish Listed Companies," European Research Studies Journal, European Research Studies Journal, vol. 0(2 - Part ), pages 979-993.
    12. Nicola Raimo & Alessandra Caragnano & Marianna Zito & Filippo Vitolla & Massimo Mariani, 2021. "Extending the benefits of ESG disclosure: The effect on the cost of debt financing," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(4), pages 1412-1421, July.
    13. Valentina Minutiello & Patrizia Tettamanzi, 2022. "The quality of nonfinancial voluntary disclosure: A systematic literature network analysis on sustainability reporting and integrated reporting," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(1), pages 1-18, January.
    14. Nicola Raimo & Michele Rubino & Paolo Esposito & Filippo Vitolla, 2023. "Measuring quality of popular annual financial reports: Features of the rewarded US reporting municipalities," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(1), pages 17-27, January.
    15. Esther Ortiz & Salvador Marín & Paul Thompson, 2024. "The role of small- and medium-sized practices in the sustainable transition of SMEs," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(8), pages 19299-19323, August.
    16. Abbas Saad Hamada Alkhuzaie & Muzaffar Asad & Ala'a Zuhair Ahmad Mansour & Mohammed Ali Bait Ali Sulaiman & Umar Nawaz Kayani & Muhammad Uzair Asif, 2024. "Compliance with Accounting Standards by Jordanian SMEs," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 89-107.
    17. Hengky Latan & Charbel Jose Chiappetta Jabbour & Murad Ali & Ana Beatriz Lopes de Sousa Jabbour & Tan Vo-Thanh, 2023. "What Makes You a Whistleblower? A Multi-Country Field Study on the Determinants of the Intention to Report Wrongdoing," Journal of Business Ethics, Springer, vol. 183(3), pages 885-905, March.
    18. L'Abate, Vitiana & Raimo, Nicola & Vitolla, Filippo, 2023. "Circular Economy Disclosure through Social Media: An Empirical Analysis on Twitter," EconStor Conference Papers 279493, ZBW - Leibniz Information Centre for Economics.
    19. Yulan, Zheng & Li, Ao & Yan, Zehao & Bai, Yuxin & Chen, Sicen, 2024. "Does employee whistleblowing inhibit corporate pollutant emission," International Review of Financial Analysis, Elsevier, vol. 91(C).
    20. Isabel-María García-Sánchez & Nicola Raimo & Víctor Amor-Esteban & Filippo Vitolla, 2023. "Board committees and non-financial information assurance services," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 27(1), pages 1-42, March.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ahd:journl:v:6:y:2025:i:5:p:59-72. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Radu CIOBANU (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.