Corporate Reporting Practices Concerning Non-financial Aspects: A Possible Prolix?
The new trend in corporate reporting is the integrated reporting (<IR>), who integrates financial information with the information on the environment, society and governance (ESG) in a single report (Eccles et al. One report: Integrated reporting for a sustainable strategy. Wiley, Hoboken, NJ, 2010). <IR> discloses information related to social, environmental, human and natural capitals, seemingly information disclosed also in sustainability reporting (<SR>). Therefore, an analysis of overlapping information into these two types of reports should clarify this. Thus, this chapter aims to answer to the following question:
How will the disclosures around social/environmental/human, social/natural capitals differ between (IIRC-type) integrated reports and (GRI-type) sustainability reports?
The design of this research is based on the specifics of social, environmental, human and natural capitals information contained by <IR> and <SR>. We developed a case study based on the Integrating reporting and Sustainability reporting of Generali Group. There are analyzed the main elements requested by the two reporting frameworks in order to see the overlaps.
Even though, a degree of prolix is identified by the coexistence of the two types of reports, there is still a need of <SR> along with the <IR>.
- Dragu, I., & Tiron-Tudor, A. (2013). New corporate reporting trends. Analysis on the evolution of integrated reporting. Annals of the University of Oradea, Economic Science Series, 22(1), 1221–1228.Google Scholar
- Eccles, R., Krzus, M. P., & Tapscott, D. (2010). One report: Integrated reporting for a sustainable strategy (1st ed.). Hoboken, NJ: Wiley.Google Scholar
- English, D. M., & Schooley, D. K. (2014). The evolution of sustainability reporting, accounting and auditing financial reporting. The CPA Journal, 26–35.Google Scholar
- Fărcaș, T. (2015a). The development of corporate reporting over time: From a traditional system to an integrated system. Revista Audit Financiar, 124(4), 106–113.Google Scholar
- Fărcaș, T. (2015b). Users’ needs: A premise for corporate reporting change, RePec, Doaj, EBSCO and CABELLS publishing services. The annals of the University of Oradea: Economic sciences (pp. 939–943). http://anale.steconomiceuoradea.ro/volume/2015/AUOES-1-2015.pdf
- Fortune Global 500. (2015). http://fortune.com/global500/2015/assicurazioni-generali-48/
- Generali Group. (2017). http://www.generali.com/info/download-center/results#2016
- Global Reporting Initiative. (2015). https://www.globalreporting.org/information/g4/Pages/default.aspx
- Global Reporting Initiative. (2017, February 15). https://www.globalreporting.org/information/current-priorities/integrated-reporting/Pages/default.aspx
- GRI Database. (2017). http://database.globalreporting.org/reports/46290/
- Hughen, L., Lulseged, A., & Upton, D. R. (2014). Improving stakeholder value through sustainability and integrated reporting. CPA Journal, 84(3), 57–61.Google Scholar
- James, M. L. (2015). Accounting majors’ perceptions of the advantages and disadvantages of sustainability and integrated reporting. Journal of Legal, Ethical & Regulatory Issues, 18(2), 107–123.Google Scholar
- Jastrzebska, E. (2016). Reporting of non-financial information as a stakeholder engagement method. Research Paper of Wroclaw University of Economics, Nr. 423 (pp. 61–78). ISSN 1899-3192, e-ISSN 2392-0041. Google Scholar
- Kolk, A. (2005). Sustainability reporting. VBA Journal, 21(3), 34–42.Google Scholar
- Krippendorff, K. (2013). Content analysis: An introduction to its methodology (3rd ed.). California, CA: Sage ISBN 978-1-4129-8315-0.Google Scholar
- MIT Technology Review. (2015). https://www.technologyreview.com/lists/companies/2015/
- Pwc. (2014). B20 Panel of six international accounting networks. https://www.pwc.com/gx/en/capital-projects-infrastructure/assets/pwc-b20-investment-infrastructure.pdf