PUBLIC REPORTING OF THE ECONOMIC SUBJECT: NATURE AND ITS SIGNIFICANCE IN MODERN RUSSIAN ECONOMIC DEVELOPMENT

Abstract

The article investigates the formation of public accountability paradigm of economic agents as a mechanism for the protection of property and economic benefits of persons (both natural and legal) having a direct financial interest in the activities of socially significant commercial organizations. Basis of the economic system of Russia traditionally form economic entities in the economic turnover involving a wide range of market relations participants. Large social significance of this type of economic actors (interdependent and interrelated to each other) cannot be accompanied by the process of creating business information flows. Information allows interested parties to access the data to control for the preservation of the property transferred into the possession of the economic subject, and compliance with their economic interests. An important tool for the implementation of the economic mechanism of protection of persons property and economic benefits having a direct financial interest in the affairs of socially significant economic entity, is a system of accounting data, which openly available to interested users of information in the form of specially prepared for public reporting.