The future of corporate reporting

Task. In the context of the COVID-19 pandemic, digital transformation and the increasing turbulence of the external environment, the need for economic growth that does not harm the environment and contributes to solving social problems by ensuring a balance between economic, environmental and social development based on the Concept of sustainable Development has increased, which actualizes issues related to the development of methodological approaches to the formation of corporate reporting, which should disclose not only financial, but also non-financial information about the value creation process in the organization. All this requires a study of the relationship between the development of accounting and the evolution of financial and non-financial reporting, as well as the established practice of forming integrated reporting and ways to improve it further. Methods. The article examines the applied accounting theories, classifications of accounting types, reviews of trends in the field of reporting conducted by the Deloitte Audit and Consulting Group, the International Consulting Firm Corporate Citizenship, and analyzes the regulation of the integrated reporting process by international organizations. Summary. This article substantiates the feasibility of developing strategic accounting and the evolutionary-adaptive theory of reporting as a basis for the formation of integrated reporting in the context of digitalization. Practical importance. The proposed directions for improving corporate reporting can be applied to the identified trends and recommendations, can be used to improve the accounting and analytical systems of commercial organizations, as well as methodological approaches to determining the composition of corporate reporting, including financial, various types of non-financial reporting and integrated report. The analysis of the prospects for the development of integrated reporting is the basis for improving corporate reporting. Originality. Based on the results of the study, the relationship between the development of accounting and the evolution of financial and non-financial reporting is justified. Based on the generalization of the existing practice of forming integrated reporting, the ways of its further improvement are determined on the basis of the development of strategic accounting and the evolutionary-adaptive theory of reporting.

corporate reporting, financial reporting, non-financial reporting, integrated reporting, evolutionary adaptive balance theory, strategic accounting, digitalization