Improvement of the methodological materials for the preparation of non-financial reports in the field of compliance management

Abstract

Introduction. Non-financial reports in the field of compliance management is able to prove to regulators, investors, and other concerned parties that a corporate compliance system is really operating and effective and that it corresponds to the nature and scale of the company’s activities. In the presence of highly diverse methodological approaches to the disclosure of non-financial information, the lack of specialised reporting standards in the field of compliance remains one of the most important issues. Purpose. Improvement of the methodological approach to the preparation of non-financial reports in the field of compliance management. Methods. The main conclusions made in this article are based on general scientific methods: analysis, synthesis, comparison, deduction, and induction. Conclusions. We proposed a methodological approach to the development of non-financial reporting in the field of compliance management is proposed, including the following: the principles determining the content and quality of reports; reporting forms depending on the range and structure of the disclosed information, the degree of its standardisation, and its purpose; basic composition of reporting elements and indicators categorised according to the functions of the compliance management process (prevention, detection, and response) and corresponding to the latest versions of the GRI Standards. Using the methodological approach, we analysed the quality of information disclosure in the field of compliance in public reports of Russian companies that take leading positions in specialised rankings and competitions. The obtained results show that Russian companies are annually trying to improve the quality of reporting processes in accordance with the requirements of international standards. However, reporting in the field of compliance management is still at an early stage of its development.