Accounting systems in developing countries under sustainability: first glance from Ukraine and Ghana
-
DOIhttp://dx.doi.org/10.21511/afc.02(1).2018.04
-
Article InfoVolume 2 2018-2019, Issue #1, pp. 37-46
- Cited by
- 1881 Views
-
156 Downloads
This work is licensed under a
Creative Commons Attribution-NonCommercial 4.0 International License
The dissemination of sustainability reporting and integrated reporting is a key trend in the development of accounting systems under the influence of the concept of sustainable development. This statement is fair not only for developed countries, but also for developing countries. On the example of Ghana and Ukraine, a comparative study of regulatory requirements and conceptual frameworks for the compilation of sustainability reporting and integrated reporting has been conducted; the dynamics, size of reporting companies, their sectoral affiliation and the standards used are researched. It was proved that the basis for the promotion sustainability reporting and integrated reporting in these countries are regulatory requirements, as well as increasing the perception of CSR, the transparency and accountability of business, the practices of stakeholder participation and assurance the reliability of reporting for stakeholders.
- Keywords
-
JEL Classification (Paper profile tab)M40, M48, Q01
-
References19
-
Tables2
-
Figures3
-
- Figure 1. Number of SR in Ghana and Ukraine for the period of 2008–2018
- Figure 2. SR in Ukraine for the period of 2008–2018 by the companies’ size
- Figure 3. Standards for preparation sustainability reporting in the EU and Ukraine in 1999-2016
-
- Table 1. SR in Ukraine for the period of 2008–2018 by the companies' sector
- Table 2. SR in Ghana for the period of 2008–2018 by the companies’ sector
-
- Cheng, M., Green, W., Conradie, P., Konishi, N., & Romi, A. (2014).The International Integrated Reporting Framework: Key Issues and Future Research Opportunities. Journal of International Financial Management & Accounting, 25(1), 90-119.
- Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC.
- Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups, Official Journal of the European Union L 330/1.
- Dragu, I.-M., & Tiron-Tudor, A. (2013). New Corporate Reporting Trends: Analysis on the Evolution of Integrated Reporting. Annals of Faculty of Economics, 1(1), 1221-1228.
- Eccles, R. G., & Saltzman, D. (2011). Achieving Sustainability through Integrated Reporting. Stanford Social Innovation Review, 9(3), 56-61.
- Eccles, R. G., Cheng, B., & Saltzman, D. (2010). The Landscape of Integrated Reporting. Reflections and Next Steps (334 p). Harvard Bussines School.
- Eccles, R. G., Serafeim, G. (2014). Corporate and Integrated Reporting: A Functional Perspective. (HBS Working Paper No. 14-094).
- European External Action Service (EEAS) (27.06.2014). EU-Ukraine Association Agreement.
- Ghana Stock Exchange (2018). Listing requirements.
- GRI SDD Database (2018).
- Institute of Directors in Southern Africa (IoDSA) (2009). King Code of corporate governance for South Africa 2009.
- International Integrated Reporting Council (IIRC) (2013). The International Integrated Reporting Framework.
- Ioannou, I., & Serafeim, G. (2011). The Consequences of Mandatory Corporate Sustainability Reporting (HBS Working Paper No. 11-100).
- Makarenko, I., & Sirkovska, N. (2017). Transition to sustainability reporting: evidence from EU and Ukraine. Business ethics and Leadership, 1(1), 16-24.
- Mynhardt, Н., Makarenko, I., & Plastun, O. (2017). Standardization of sustainability reporting: rationale for better investment decision-making. Public and Municipal Finance, 6(2), 7-15.
- Petryk, O., Kurylo, O., Karmaza, O., Makhinchuk, V., & Martyniuk, O. (2018). Non-financial reporting of companies and the necessity of its confirmation by auditors in Ukraine. Problems and Perspectives in Management, 16(2), 385-395.
- Toit, A., Steyn, B., Pilley, A., & Gweshe, R. (2014). Insights into SOC Integrated Reporting Trends in South Africa. Journal of Management Research, 7(3), 130-156.
- Tsamenyi, M., Enninful-Adu, E., & Onumah, J. (2007). Disclosure and corporate governance in developing countries: evidence from Ghana. Managerial Auditing Journal, 22(3), 319-334.
- Verkhovna Rada of Ukraine (1999). Закон України «Про бухгалтерський облік та фінансову звітність в Україні» від 16.07.1999 № 996-XIV [Law of Ukraine “On Accounting and Financial Reporting in Ukraine” 16.07.1999 No. 996-XIV].