Subject The article analyzes the corporate reporting of large Russian companies for compliance with the integrated reporting principles that are formulated by the International Integrated Reporting Council in the International Integrated Reporting Framework. Objectives The aim is to determine the degree of readiness of large Russian companies, which are rated by Expert-400, listed on the Moscow Stock Exchange and foreign stock exchanges, operate in banking, nuclear, and electric power industries, for transition to integrated reporting being an innovation model of corporate reporting. Methods The study draws upon general scientific methods like analysis, synthesis, generalization, abstraction, comparison, and the logical method. Results I present the findings of my research that I conducted when teaching the Financial Statements Analysis discipline at the PFUR on compliance of large Russian companies' corporate reporting with major principles of the IIRF. I summarize the findings of the study on corporate transparency conducted by the Russian Regional Network on Integrated Reporting in 2013–2014, identify blocks of improperly disclosed accounting information, and describe potential benefits for Russian companies and the entire society as a result of enhanced information transparency due to transition to integrated reporting preparation. Conclusions and Relevance The research shows that the quality of corporate reporting of Russian companies is improving. It is important to further develop theoretical and practical aspects of integrated reporting, including the areas proposed in the article.
Keywords: integrated reporting, corporate reporting, potential benefits, information transparency
References:
Malinovskaya N.V. Integrirovannaya otchetnost': reshenie problemy informatsionnoi prozrachnosti [Integrated reporting: solving the problem of information transparency of business]. Ekonomika. Biznes. Banki = Economy. Business. Banks, 2014, no. 4, pp. 92–102.
King M. Biznes vedeniya biznesa – eto biznes [The business of doing business is a business]. Ekonomicheskie strategii = Economic Strategies, 2012, no. 6-7, pp. 10–13.
Malinovskaya N.V. Integrirovannaya otchetnost': informatsionnoe znachenie, printsipy sostavleniya [Integrated reporting: information-related importance, principles of preparation]. Moscow, Finansovyi universitet Publ., 2015, 162 p.
Vakhrushina M.A. K voprosu o transparentnosti finansovoi otchetnosti [On transparency of financial reporting]. Korporativnaya finansovaya otchetnost'. Mezhdunarodnye standarty = Corporate Financial Statements. International Standards, 2013, no. 6, pp. 25–33.
Druzhilovskaya T.Yu. Otchety o finansovom polozhenii i rezul'tatakh deyatel'nosti organizatsii v svete sovremennykh trebovanii rossiiskikh i mezhdunarodnykh standartov [Balance Sheet and Income Statement of organizations in view of modern requirements of Russian and international standards]. Vestnik Nizhegorodskogo universiteta im. N.I. Lobachevskogo = Vestnik of Lobachevsky State University of Nizhny Novgorod, 2011, no. 3, pp. 222–229.
Kaspina R.G. Institutsional'nye aspekty potentsiala vysokokachestvennoi korporativnoi otchetnosti [Institutional aspects of the potential of high-quality corporate reporting]. Auditorskie vedomosti = Audit Journal, 2013, no. 5, pp. 17–21.
Kovalev V.V. Kontseptsiya dostovernosti i nepredvzyatosti v bukhgalterskom uchete: traktovka i primenenie [The concept of reliability and neutrality in accounting: interpretation and application]. Vestnik Sankt-Peterburgskogo universiteta. Ser. 5: Ekonomika = Vestnik of Saint-Petersburg University. Series 5. Economics, 2012, no. 2, pp. 107–116.
Rozhnova O.V., Igumnov V.M. Metodicheskie aspekty formirovaniya transparentnoi finansovoi otchetnosti organizatsii [Methodological aspects of generating the transparent financial reporting of the organization]. Izvestiya Moskovskogo gosudarstvennogo tekhnicheskogo universiteta MAMI = Izvestiya MGTU MAMI, 2013, vol. 5, no. 1, pp. 176–180.
Shilova L.F. Problemy kachestva raskrytiya informatsii v bukhgalterskoi otchetnosti [Issues related to the quality of disclosure in financial statements]. Ekonomicheskie nauki = Economic Sciences, 2009, no. 8, pp. 306–310.
