National concept for the development of integrated reporting in Russia

• Published in: Učët. Analiz. Audit (Online) Vol. 11; no. 1; pp. 6 - 13
• Main Author: Malinovskaya, N. V.
• Format: Journal Article
• Language: English; Russian
• Published: Government of Russian Federation, Financial University 19.03.2024
• Subjects: concept of development of non-financial reporting; institutionalization; integrated reporting; integrated thinking; sustainability reporting standards
• ISSN: 2408-9303; 2619-130X
• DOI: 10.26794/2408-9303-2024-11-1-6-13

The growing attention of the state to the issues of national sovereignty in different areas has predetermined the urgency of considering the current state of affairs in the field of corporate reporting from this position. The purpose of the study is to substantiate the need for institutionalization of the concept of integrated reporting as the model of corporate reporting that best meets national interests. Based on a study of Russian and foreign practice of normative regulation of corporate reporting, as well as transformation processes to standardize reporting in the field of sustainable development that have occurred in the last few years on a global scale, the need to replace the Concept for the development of non-financial reporting with the national concept for the development of integrated reporting is substantiated. The author proposed to empower the Ministry of Finance of the Russian Federation with the function of a regulator in the field of integrated reporting, which will allow to develop a system of standards for the latter, interconnected with the federal accounting standards and aimed at providing a holistic view of an economic entity. The article identifies the main elements of the institutional environment necessary for the introduction of integrated reporting into management practice. The research was carried out using such general scientific methods as analysis, synthesis, comparison, generalization, abstraction. Its results may be of interest to national regulators of corporate reporting, the scientific and professional community, as well as economic entities interested in increasing transparency and accountability.