{"id":15456,"date":"2021-07-20T10:04:34","date_gmt":"2021-07-20T07:04:34","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=15456"},"modified":"2021-11-24T09:27:06","modified_gmt":"2021-11-24T07:27:06","slug":"overview-of-the-implementation-of","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/overview-of-the-implementation-of\/","title":{"rendered":"Luhova O. Overview of the Implementation of Integrated Reporting Around the World"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]<\/p>\n\n\n\n
JEL Classification<\/strong>: M 40<\/i>
\n<\/span><\/td>\n		DOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V27(2021)-13<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][vc_column_text]<\/p>\n

Luhova Olha,<\/b> Candidate of Economic Sciences, Senior lecturer of the Department of Accounting and Taxation, Mykolayiv National Agrarian University, Mykolayiv, Ukraine<\/span><\/p>\n

ORCID ID:<\/strong> 0000-0003-4432-0295<\/span><\/a>
\ne-mail:<\/strong> lugova@mnau.edu.ua<\/span><\/a><\/p>\n

<\/h2>\n

Specific Features of Auditing Small Businesses
\nin the Conditions of Spreading the COVID-19 Pandemic<\/h2>\n

 <\/p>\n

Introduction.<\/strong> The development of corporate reporting in modern conditions is determined by increased attention to the problems of sustainable development and the assessment of business value, its investment attractiveness, and competitiveness. Development of an integrated reporting concept that accumulates current trends in the external environment and the needs of business partners by disclosing information about the value creation of the company, reflecting the interdependence between the results of the organization’s activities and their various consequences, focused on the future, structured in accordance with the strategic objectives of the company and its business model.<\/p>\n

Purpose.<\/strong> This is an explanatory study that was conducted using recent scientific literature and data from official websites. The findings are useful as reading material for students, academicians, and researchers for better understanding the theoretical background of integrated reporting based on the experience of its implementation in the leading countries around the world.<\/p>\n

Results.<\/strong> The number of organizations using integrated reports to communicate their value creation story now is more than 2,500 businesses in over 70 countries implementing integrated reporting. Integrated reporting is the way to achieve a more coherent corporate reporting system, fulfilling a need for a single report that provides a fuller picture of organizations\u2019 ability to create value. International Integrated Reporting Council highlights the countries leading the way for the adoption of integrated reporting Brazil, the United Kingdom, South Africa, India, Japan, Malaysia, Singapore, Australia, New Zealand. R. Eccles, M. Krzus and C. Solano analysed integrated reporting in ten countries and found that countries could be grouped into three categories of quality of disclosure: High (Germany, the Netherlands, and South Africa), Medium (France, Italy, South Korea, and the United Kingdom), and Low (Brazil, Japan, and the United States). South Africa was the first to introduce integrated reporting as an obligation for companies listed on the Johannesburg Stock Exchange. According to the Excellence in Integrated Reporting survey of top 100 South African companies 22 Companies ranked as \u201cExcellent\u201d, 29 Companies ranked as \u201cGood\u201d and 49 as \u201cProgress to be made\u201d in 2020. An integrated report benefits all stakeholders interested in a company\u2019s ability to create value. Some internal and external benefits of preparing integrated reports cited by experienced South African reporters are generalized.<\/p>\n

Conclusions.<\/strong> The concept of reporting has changed dramatically in recent decades: from traditional financial reporting to the integration of financial and non-financial information in an integrated report. The best way to speed its adoption is for the corporate and investment communities to mobilize in order to drive adoption and improve the quality of integrated reporting for the benefit of themselves and society at large.<\/p>\n

Keywords: <\/b>integrated reporting, integrated reports, International Integrated Reporting Council, International Integrated Reporting Framework, stakeholders.
\n<\/b><\/p>\n

References:<\/strong><\/p>\n

    \n
  1. Global Reporting Initiative, \u00abGRI. Forging a path to Integrated Reporting. Insights from the GRI Corporate Leadership Group on Integrated Reporting\u00bb. Retrieved from: http:\/\/integratedreportingsa.org\/ircsa\/wp-content\/uploads\/2017\/05\/GRI-CLG_IntegratedReporting.pdf<\/span><\/li>\n
  2. The International Integrated Reporting Framework. Retrieved from: <\/span>https:\/\/integratedreporting.org\/wp-content\/uploads\/2021\/01\/InternationalIntegratedReportingFramework.pdf<\/span><\/li>\n
  3. A roadmap for accelerating integrated reporting assurance. Retrieved from: <\/span>https:\/\/integratedreporting.org\/news\/a-roadmap-for-accelerating-integrated-reporting-assurance\/<\/span><\/li>\n
  4. Enhancing Organizational Reporting: Integrated Reporting Key. Retrieved from: <\/span>https:\/\/www.ifac.org\/knowledge-gateway\/contributing-global-economy\/publications\/enhancing-organizational-reporting-integrated-reporting-key<\/span><\/li>\n
  5. Find out what is happening in your region. Retrieved from: <\/span>https:\/\/integratedreporting.org\/when-advocate-for-global-adoption\/find-out-what-is-happening-in-your-region\/<\/span><\/li>\n
  6. Fasset, South Africa. Retrieved from: www.fasset.org.za \u2013 Report available at bit.ly\/1IWPn5g<\/span><\/li>\n
  7. NZ Post Group, New Zealand. Retrieved from: www.nzpost.co.nz \u2013 Report available at bit.ly\/1QgVHw6<\/span><\/li>\n
  8. NHS Greenwich Clinical Commissioning Group (GCCG), UK. Retrieved from: www.greenwichccg.nhs.uk \u2013 Report available at bit.ly\/1RGj69T<\/span><\/li>\n
  9. Maritime and Port Authority of Singapore, Singapore. Retrieved from: www.mpa.gov.sg \u2013 Report available at bit.ly\/1Nk67Fv<\/span><\/li>\n
  10. Integrated Reporting in the Public Sector. Retrieved from: <\/span>https:\/\/integratedreporting.org\/wp-content\/uploads\/2016\/09\/IR-in-the-Public-Sector-CIMACGMA.pdf<\/span><\/li>\n
  11. Robert G. Eccles and Michael P. Krzus, One Report: Integrated Reporting for a Sustainable Strategy, Hoboken, N.J.: John Wiley & Sons, 2010: 146\u201356.\u00a0<\/span><\/li>\n
  12. Robert G. Eccles and Kyle Armbrester, Two Disruptive Ideas Combined: Integrated Reporting in the Cloud, IESE Insight, no. 8, 2011.<\/span><\/li>\n
  13. Eccles, Robert G. and Krzus, Michael P. and Solano, Carlos, (2019) A Comparative Analysis of Integrated Reporting in Ten Countries. SSRN. Retrieved from: https:\/\/ssrn.com\/abstract=3345590 or <\/span>http:\/\/dx.doi.org<\/span>\/<\/span>10.2139\/ssrn.3345590<\/span><\/li>\n
  14. Excellence in Integrated Reporting. Retrieved from: <\/span>https:\/\/www.ey.com\/en_za\/assurance\/excellence-in-integrated-reporting<\/span><\/li>\n
  15. Excellence in Integrated Reporting Awards 2020. Retrieved from: <\/span>https:\/\/www.ey.com\/en_za\/news\/2020\/10\/integrated-reporting-awards-2020<\/span><\/li>\n
  16. Are you reframing the future or is the future reframing you? Excellence in Integrated Reporting 2020. Retrieved from: <\/span>https:\/\/integratedreportingsa.org\/ircsa\/wp-content\/uploads\/2020\/09\/EY-Excellence-in-Integrated-reporting-2020-Report.pdf<\/span><\/li>\n
  17. Preparing an Integrated Report: a Starter\u2019s Guide (updated). Retrieved from: <\/span>http:\/\/integratedreportingsa.org\/ircsa\/wp-content\/uploads\/2018\/08\/IRC_Starters_Guide_20180820_12663_LN.pdf<\/span><\/li>\n
  18. Building Momentum IIRC Integrated Report 2018. Retrieved from: <\/span>https:\/\/integratedreporting.org\/integratedreport2018\/download\/ pdf\/IIRC_INTEGRATED_REPORT_2018.pdf<\/span><\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received: <\/strong>20\u00a0May 2021<\/span><\/strong><\/p>\n

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    Luhova O. (2021). Overview of the Implementation of Integrated Reporting Around the World. Modern Economics<\/em>, 27(2021), 99-105. DOI: https:\/\/doi.org\/10.31521\/modecon.V27(2021)-13.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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    [vc_row][vc_column][vc_column_text] JEL Classification: M 40 DOI: https:\/\/doi.org\/10.31521\/modecon.V27(2021)-13 [\/vc_column_text][vc_column_text] Luhova Olha, Candidate of Economic Sciences, Senior lecturer of the Department of Accounting and Taxation, Mykolayiv National Agrarian University, Mykolayiv, Ukraine ORCID ID: 0000-0003-4432-0295 e-mail: lugova@mnau.edu.ua Specific Features of Auditing Small Businesses in the Conditions of Spreading the COVID-19 Pandemic   Introduction. The development of corporate reporting
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