EXPERIENCE OF EUROPEAN COUNTRIES IN THE PREPARATION OF INTEGRATED REPORTING

Abstract

Goal. The concept of integrated reporting significantly expands the effectiveness of corporate reporting of companies. Integrated reporting is able to satisfy the information needs of a wide range of users, as it involves combining in one document financial information on value creation, risk management, with information on social responsibility and environmental consequences of activity. The experience of European countries in the preparation of integrated reporting touches on the issues of improving transparency, efficiency, environmental and social responsibility of private companies and state institutions, disclosure of information about the contribution to achieving the goals of sustainable development. The purpose of the article is to compare the experience and national features of the preparation of integrated reporting of European countries, review the regulatory and legal regulation and the practice of information disclosure. Method. During the research, such scientific methods as analysis, synthesis, comparison, systematization, induction, deductive method, analogy, modeling, system approach were used. Results. Integrated reporting is the result of integrated thinking reflected in the reporting of the company's value creation. In Europe, the practice of preparing integrated reporting is most common in France, Denmark, Belgium, Germany, Italy, Spain, Sweden, the Netherlands and Great Britain. The main differences between countries are the lack of uniform rules and standards, the significant influence of national legislation, the variability of reporting entities, the content and format of integrated reporting, its audit, mental understanding and perception. Integrated reporting of European companies is based on the requirements of Directives 2014/95/EU and 2013/34/EU, the IIRF International Conceptual Framework, GRI, ESG, IFRS, SDG standards. Thus, combining in one document information on environmental, social and management indicators of activity, value creation, management of impact on society and the environment, contribution to solving global problems. Practical significance. Implementation of the experience of European countries in the preparation of integrated reporting is of great importance for the Ukrainian economy and society in ensuring transparency and accountability of business, corporate social responsibility, improving economic stability, competitiveness of companies and attracting investments.