Disclosure of Information in Risk Reporting in the Context of the Sustainable Development Concept

Sustainability

Elena Evstafyeva¹  Irina Bogataya²  Denis Lavrov³  Natalya Mukhanova⁴  Svetlana Solyannikova⁵  Ekaterina Korsakova⁶ 

[1] Accounting Department, Rostov State University of Economics, 344002 Rostov-on-Don, Russia;Audit Department, Rostov State University of Economics, 344002 Rostov-on-Don, Russia;Audit and Corporate Reporting Department, Financial University under the Government of the Russian Federation, 125167 Moscow, Russia;Center for Training Highly Qualified Personnel, Peter the Great St. Petersburg Polytechnic University, 195251 Saint-Petersburg, Russia;Public Finance Department, Financial University under the Government of the Russian Federation, 125167 Moscow, Russia;Research Coordination Department, Financial University under the Government of the Russian Federation, 125167 Moscow, Russia;

关键词: risks;    sustainable development concept;    financial and non-financial reporting;    integrated reporting;    integrated thinking;    capital;   

DOI  :  10.3390/su14042300

来源: DOAJ

【 摘 要 】

In the context of the global financial crisis and pandemic, issues related to risk management are of paramount importance, which requires the creation of an effective risk management system and disclosure of information regarding risks in the reporting of commercial organizations, focused on the information needs of stakeholders. This article is aimed at studying the existing practice of disclosing information regarding risks in the financial and non-financial statements of Russian companies. The study is based on the analysis of the current practice of disclosure of information regarding risks in Russia and abroad. Using the analysis of risk disclosure in 210 Russian commercial organizations, the study was aimed, foremost, at identifying factors influencing the format and quality of risk disclosure in financial and non-financial reporting, and secondly, at summarizing the practices of risk disclosure in integrated reporting in Russian organizations and the benefits of using integrated reporting. In this sense, the article contributes to the existing literature as an innovative study that determines the directions of development of the methodology for disclosing information regarding risks in integrated reporting in order to improve its quality and information content in accordance with the Concept of value Creation by the organization in combination with the Concept of Sustainable Development. For stakeholders, this study emphasizes the fact that, in the context of the risk disclosure format used, the quality of this information depends on a number of factors (organizational, technological, legal, cultural, economic). The study could be useful for managers and decision makers whose aim is to implement the Concept of Sustainable Development and the achievement of Sustainable Development Goals.

【 授权许可】

Unknown