Bidding farewell to paper financial reports – are Polish micro businesses coping with the phenomenon

Abstract

In the wake of the IT revolution of recent decades, Polish companies have experienced changes, such as the obligation to report financials in purely electronic form. This shift creates benefits but is also a source of challenges. The authors' inspiration for this research stems from the recognition of a clear research gap in the literature relating to the electronic reporting of micro and small companies. The article aims to verify how Poland's smallest companies covered by reporting obligations cope with the compulsory compilation, signing and publication of financial statements solely by electronic means. The study was qualitative in nature, followed a case study methodology, and concerned two Polish micro-companies. The results show that the entities analyzed essentially do cope with e-reporting. Certain attributes of these reports - - such as timeliness or completeness, are questionable, however. The results contribute to the understanding of the financial reporting practice by micro companies in Poland. They can indicate directions for changes in the actions taken by those involved in corporate reporting. Cognizance of this issue can also provide the regulator with directions for regulatory changes.