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Traditional financial reporting is not sufficient anymore for the renewed need for information of stakeholders. In result, governments have created different policies to stimulate or to have seen a strong rise in this kind of reporting during the last decades. Stakeholders, including governments, have high expectations about the potential of the reporting process to lead to improved transparency and accountability as well as to internal change and performance improvement. In this article we have developed a theory of change, describing the logic of the path from reporting to performance improvement. Based on a literature study we have collected data that support or argue against this logic line. We conclude that there is limited evidence that we can expect that reporting automatically leads to improved performance. There is a clear need for more research into the impact of non-financial reporting on performance.

AbstractThe purpose of this paper is to enhance our understanding of the notions and conceptual foundations of assurance in the standard setting arena. This will facilitate an informed discussion of the challenges and the role of assurance within an increasingly complex and fragmented corporate reporting regulatory landscape. The study draws on relevant literature on sustainability assurance and an analysis of how the assurance concept has been framed by the International Auditing and Assurance Standards Board (IAASB) through the construction of standards. The analysis highlights that the fragility of the conceptual foundations of assurance, broad-based nature of standards and diversity in practice contribute to the persistent challenges of sustainability assurance. This paper makes an important contribution to the discussions and contemporary debates on the regulation of and through assurance as well as the complex newer concept of integrated assurance. It further contributes to a more informed policy discussion as to how it can(not) strengthen the role of non-financial reporting as an agent of change to encourage more sustainable companies.

[EN] Spain is one of the European countries that is the most strongly committed to the presentation of non-financial information. In 2017, Spain adapted its legislation to Directive 2014/95/EU through Royal Decree-Law 18/2017, which required Public Interest Entities (PIEs) to provide information in accordance with the requirements of the European Union (EU) Directive, with respect to financial years from 1 January 2017. Our research is focused on Spanish IBEX-351 listed companies and seeks to identify current trends in non-financial reporting. To our knowledge, the present paper is the first study to examine the impact made in Spain by the legislative changes. Our aim is to analyse the publication of non-financial information by Spanish listed companies whose first reports in this regard were made from early 2018. Specifically, we consider the impact of this information disclosure, determining whether the companies in question restrict themselves to meeting regulatory requirements or whether they go further and voluntarily supply additional information. Our findings show that the level of regulatory compliance produced is associated with the business sector in which the company operates. We also show that the highest rates of disclosure of non-financial information correspond to companies that provide this information in the sustainability report. ; This research was funded by the Generalitat Valenciana, grant number AICO/2017/092. ; Sierra-García, L.; García-Benau, MA.; Bollas-Araya, HM. (2018). Empirical Analysis of Non-Financial Reporting by Spanish Companies. Administrative Sciences. 8(3):1-17. https://doi.org/10.3390/admsci8030029 ; S ; 1 ; 17 ; 8 ; 3 ; Adams, C. A. (2004). The ethical, social and environmental reporting‐performance portrayal gap. Accounting, Auditing & Accountability Journal, 17(5), 731-757. doi:10.1108/09513570410567791 ; Archambeault, D., & DeZoort, F. T. (2001). Auditor Opinion Shopping and the Audit Committee: An Analysis of Suspicious Auditor Switches. International Journal of ...

This paper presents issues related to non-financial reporting, focusing on sustainability reports. In recent years, corporate social responsibility (CSR) has been asserted as a new form of business governance, CSR being recognized in a global context. Companies have a significant impact on social development in the areas where they operate. Therefore, these companies have a responsibility that extends beyond a simple algorithm that refers to profit. There are a multitude of companies that are profitable in financial terms but have activities that harm their own employees and the community. There are major differences in CSR approach; these differences appear in the literature, where authors perceive differently the responsibilities of a company towards society, but also the way EU member countries implement the Directive 2014/95/EU of the European Parliament and the Council in the national legislation. CSR reporting shows how companies choose to behave in relationships with suppliers, employees, customers, investments, the environment, the company, and people who influence their financial results. Non-financial reporting is related to corporate social responsibility policy, but also to management of the risk and business strategy. By reporting CSR, investors, customers, employees and the company can make a pertinent comparison between companies performance. Approximately half of the EU countries have chosen to include the provisions of the Directive in the accounting legislation and the other countries have chosen to include provisions in other categories of legislation, which shows that not all EU countries attach great importance to the accounting profession in terms of reporting responsibility kind. Most EU countries choose to submit CSR information in a management report or a separate non-financial report, but there are a few countries that choose to report CSR activities in the annual report.

Spain is one of the European countries that is the most strongly committed to the presentation of non-financial information. In 2017, Spain adapted its legislation to Directive 2014/95/EU through Royal Decree-Law 18/2017, which required Public Interest Entities (PIEs) to provide information in accordance with the requirements of the European Union (EU) Directive, with respect to financial years from 1 January 2017. Our research is focused on Spanish IBEX-351 listed companies and seeks to identify current trends in non-financial reporting. To our knowledge, the present paper is the first study to examine the impact made in Spain by the legislative changes. Our aim is to analyse the publication of non-financial information by Spanish listed companies whose first reports in this regard were made from early 2018. Specifically, we consider the impact of this information disclosure, determining whether the companies in question restrict themselves to meeting regulatory requirements or whether they go further and voluntarily supply additional information. Our findings show that the level of regulatory compliance produced is associated with the business sector in which the company operates. We also show that the highest rates of disclosure of non-financial information correspond to companies that provide this information in the sustainability report.

Spain is one of the European countries that is the most strongly committed to the presentation of non-financial information. In 2017, Spain adapted its legislation to Directive 2014/95/EU through Royal Decree-Law 18/2017, which required Public Interest Entities (PIEs) to provide information in accordance with the requirements of the European Union (EU) Directive, with respect to financial years from 1 January 2017. Our research is focused on Spanish IBEX-351 listed companies and seeks to identify current trends in non-financial reporting. To our knowledge, the present paper is the first study to examine the impact made in Spain by the legislative changes. Our aim is to analyse the publication of non-financial information by Spanish listed companies whose first reports in this regard were made from early 2018. Specifically, we consider the impact of this information disclosure, determining whether the companies in question restrict themselves to meeting regulatory requirements or whether they go further and voluntarily supply additional information. Our findings show that the level of regulatory compliance produced is associated with the business sector in which the company operates. We also show that the highest rates of disclosure of non-financial information correspond to companies that provide this information in the sustainability report.

The operational policies of business enterprise are continuously influenced by the interaction between various groups of society viz. owners, creditors, customers, employees, community government etc. These different groups exercise their social, political and economic influence to change the corporate policies in their favor. In the old age economic system, the size of the business enterprise was very small and that too was entirely controlled by the owner managers. Other contracting groups were not influential due to lack of education and awareness. Therefore in the corporate influence system, the owners were framed to suit their interests. But with the change in social, political and economic environment, the size of the business enterprise grew and it began to play a pivotal role in the society. It started affecting the interest of other social groups substantially. In this respect the impact of considering corporate social responsibility in the business performance has to be traced. Hence the project has interest to understand the state of non financial reporting: CSR and environmental reporting practices in Ethiopian corporate firms and NGOs. Data for the study was from secondary sources and primary sources. The annual reports of sixty organizations have been reviewed. And the higher officials of the Ethiopian Environment Protection Agency have been interviewed. The project has revealed that there is the practice of reporting CSR and environmental issues in Ethiopian NGOS in full. In addition many public enterprises used to report their CSR and environmental issues with in their corporate annual reports since they are forced by the Privatization and Public Enterprises Supervising Agency (PPESA). With regard to the privately owed corporate firms the company characteristics has influence on non financial reporting: CSR and environmental reporting

The operational policies of business enterprise are continuously influenced by the interaction between various groups of society viz. owners, creditors, customers, employees, community government etc. These different groups exercise their social, political and economic influence to change the corporate policies in their favor. In the old age economic system, the size of the business enterprise was very small and that too was entirely controlled by the owner managers. Other contracting groups were not influential due to lack of education and awareness. Therefore in the corporate influence system, the owners were framed to suit their interests. But with the change in social, political and economic environment, the size of the business enterprise grew and it began to play a pivotal role in the society. It started affecting the interest of other social groups substantially. In this respect the impact of considering corporate social responsibility in the business performance has to be traced. Hence the project has interest to understand the state of non financial reporting: CSR and environmental reporting practices in Ethiopian corporate firms and NGOs. Data for the study was from secondary sources and primary sources. The annual reports of sixty organizations have been reviewed. And the higher officials of the Ethiopian Environment Protection Agency have been interviewed. The project has revealed that there is the practice of reporting CSR and environmental issues in Ethiopian NGOS in full. In addition many public enterprises used to report their CSR and environmental issues with in their corporate annual reports since they are forced by the Privatization and Public Enterprises Supervising Agency (PPESA). With regard to the privately owed corporate firms the company characteristics has influence on non financial reporting: CSR and environmental reporting