Purpose: The purpose of this paper is role of financial reporting and the accounting profession in the identification of corruption what is foreseen in the Criminal Code of the Republic of Albania regarding the activity of businesses that violate financial reporting in accordance with accounting standards, how they stand against each other with the aim of a true and fair view of the activities of each entity. Methods: This paper comes as an empirical study of the regulatory framework in Albania in the field of financial reporting and criminal-juridical protection provided in under Criminal Code of the Republic of Albania, as two influential indicators in the wide discussed phenomenon of corruption in our country. The study employs a combination of qualitative and quantitative methodologies. Through empirical and statistical analysis, the actuality in Albania will be understood in the trinomial of financial reporting, criminal-juridical protection, and corruption. At the end, suggestions for the main actors will be presented for the role of financial reporting in the fight against corruption and organized crime, identifying it as a main tool. Results and Discussion: Corruption and organized crime are increasingly finding themselves in many dimensions in the world of globalization and information technology development. Through the "Action plan for fighting corruption and economic crime" (2022), IFAC has provided a framework for how to improve the role of the accounting profession in the fight against corruption, aiming for alignment with the UN SDGs. In this context, Albania has also undertaken its reforms in several areas, such as in the field of financial reporting, justice, etc., focusing on strengthening institutions, increasing public trust, and involving professionals with integrity and an elevated level of professionalism. Implications of the Research: Albania has been working for a long time now to align its legislation with that of the EU, in the framework of EU Integration. Among other areas, there have been a lot of developments toward the harmonization of the legal framework in the field of accounting and audit profession regulation. One of the crucial points in financial information publication is the process of preparation and auditing of financial statements. The legal framework altogether with the reporting standards should aim to encourage the publication of a true and fair view of financial information. It is recommended that the accounting professionals should show caution to prepare financial statements in accordance with national accounting standards, or international financial reporting standards evidencing the true and fair view of the entity's activity. Originality/Value: This paper presents the effect of financial reporting and criminal-juridical protection on the level of corruption in Albania. This goal is achieved by evidencing statistical data on economic entities operating in our country, describing an analysis of criminal-juridical protection provided for in the Criminal Code in force in the Republic of Albania, as well as based on a literature studied to understand how the financial reporting of entities is an important instrument for identifying corruption and what is foreseen in this criminal offense, as a means of preventing corruption and conducting business activity in accordance with legal acts.
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