Foreign Experience in the Preparation of Integrated Reporting

The concept of non-financial reporting development, approved in May last year by the decree of the Government of the Russian Federation, defines an integrated report as one of the possible types of non-financial reporting. However, Russia does not have experience in compiling this type of public reporting, considering that the very concept of integrated reporting was formalized in the form of International Integrated Reporting Basics relatively recently - in December 2013. In this regard, the study of foreign experience in disclosing information regarding the structural elements of integrated reporting is relevant and is the subject of the article research. 

The goal of the research is to identify the best practices of information disclosure in integrated reports concerning the main problematic aspects and to propose them for use in management practice by Russian economic entities. The analysis of foreign experience of information disclosure was conducted according to the data of integrated reports of South African companies for 2012–2014, which got in the top 10 listed companies of the annual rating of Ernst & Young Global Limited “Improvement in the integrated reporting” in 2013–2015. The research uses a theoretical-empirical method, benchmarking. In order to raise the awareness of the reporters and stakeholders about the best practices that have been developed around the world in the area of integrated reporting, the possible approaches to disclosing information on interaction with stakeholders, on the achievement of strategic goals, on the concept of value creation and the business model are presented. These approaches can be used by Russian economic entities when they introduce this innovative reporting model.

The best practices of disclosing information on certain structural elements of the integrated reporting presented in the article can help accelerate the implementation of integrated reporting in the management practice of Russian economic entities, as well as improve the quality of information disclosure.

1. Malinovskaya N.V. Integrated reporting: practice of preparation: monograph. Moscow: PFUR Publ.; 2016. 206 р. (In Russ.).

2. Malinovskaya N.V. Analysis of corporate reporting of Russian companies for compliance with the integrated reporting principles. International Accounting. 2016;15:17–30. (In Russ.).

3. Malinovskaya N. V. Integrated reporting: stakeholder relationships. In: Current state and prospects of development of accounting, economic analysis and audit. Proc. Int. Sci. Pr. Conf. (Irkutsk, April 17, 2015). Irkutsk: BSUEL Pub.; 2015:25–30. (In Russ.).

4. Vakhrushina M.A., ed. The accounting in the modern business structures. Мonograph. Moscow: Financial University Publ.; 2016. 228 p. (In Russ.).

5. Boronina E. S. Experience in Integrated Report Preparation by the Organization of the Russian Higher Education System. International Accounting. 2018;21(2):65–85. (In Russ.). DOI: 10.24891/ia.21.1.65

6. Bulyga R. P. A concept of the Russian Higher Educational Institutions public reporting. 2015;6:156–170. (In Russ.).

7. Dombrovskaya E.N. The status and development prospects of non-financial reporting in Russia (information of the largest state companies). Vestnik Adygei state University. Series 5: Economics. 2015;5:138–146. (In Russ.).

8. Vakhruchina M.A. Management accounting as a modern accounting paradigm of the budgetary institutions. Accounting. Analysis. Audit. 2016;1:78–89. (In Russ.).

9. Grishkina S. N., Sidneva V. P. Current status and directions of improvement of reporting in the field of sustainable development of agricultural business. Managerial accounting. 2016;1:79–86. (In Russ.).

10. Efimova O.V. Matrix approach to formation and information disclosure of resources in integrated reporting. Audit Journal. 2017;3:23–34. (In Russ.).

11. Kostyukova E. I., Bobryshev A. N. The concept of information support of the formation and implementation of the business model of an economic entity in the management accounting system. History, condition and prospects of development of agro-economic science and education. Proc. Int. Sci. Pr. Conf. (Voronezh, 03– 04 June 2016). Voronezh: Voronezh State Agrarian University named after Emperor Peter the Great Publ.; 2016:99–105. (In Russ.).

12. Kogdenko V. G., Mel’nik M. V. Modern trends in business analysis: studying the company’s ecosystem, reviewing the business model’s information content, evaluating growth opportunities. Regional economy: theory and practice. 2018;16(1):38–57. (In Russ.).

13. Lokhanova N.A. The composition of indicators of integrated corporate reporting as a possible approach to structuring. Modern Problems of Science and Education. 2012;6:456. (In Russ.).

14. Maximova V., Kuzina R. Certain issues concerning formation of fi ancial and non-fi ial indicators in integrated reporting. Scientific Bulletin of Mukachevo State University. Economics. 2015;2(1):243–249. (In Ukr.).

15. Malinovskaya N.V. The business model of medical budgetary institution as the basis of integrated reporting. Accounting in healthcare. 2016;4:8–14. (In Russ.).

16. Osadcha A.A. Accounting and analytical support of social capital in modern economic conditions. Bulletin of Zhytomyr state technological University. Series: economic science.2016;1:31–38. (In Ukr.).

17. Khoruzhii L.I., Tryastsina N. Yu. The generation of information about sustainable development in integrated reporting of agro-industrial enterprises. The journal of accounting in agriculture. 2017;4:58–69. (In Russ.).