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Reconsidering financial reporting from the perspective of corporate social and environmental responsibility. Romanian companies’ approach

Accounting in Central and Eastern Europe

ISBN: 978-1-78190-938-6, eISBN: 978-1-78190-939-3

Publication date: 27 January 2014

Abstract

Purpose

This study analyses the scope of social and environmental reporting from the perspective of integrating it in financial reporting and comments on a new approach regarding the presentation of social and environmental information in the annual reports from Romanian companies’ perspective.

Methodology

A literature review introduces and justifies the second part of the research. The latter is organised as an exploratory study based on interviews. It presents the current state of Romanian companies’ availability for reconsidering financial reporting from the perspective of corporate social responsibility.

Findings

While social and environmental involvement of Romanian companies is at an early stage, there is a basis for future development of corporate reporting by addressing social and environmental aspects. We noticed that companies have the tendency of responding rather to a mandatory framework than a voluntary one.

Research limitations

The limitations of the research are linked to the study population. The small number of Romanian companies that publicly manifest interest for social responsibility determined the choice of a qualitative instead of a quantitative research.

Social implications

The exploratory study based on the case of Romania accompanies the present state of non-financial versus financial reporting in order to highlight measurable and non-measurable, but relevant, information to be considered in a future reporting framework.

Originality of the chapter

The study advances new lines in accounting research by confronting the national and international perspectives of social and environmental reporting. Debates and arguments on the research results add value and utility to the research.

Keywords

Acknowledgements

Acknowledgements

This work was supported by CNCSIS-UEFISCDI, project number PNII-IDEI ID 1819/2008, Research regarding reassessment of financial reporting in the light of risks and uncertainties generated by contingent social and environmental factors. We appreciate helpful comments and recommendation of the reviewers and editors of the book series Research in Accounting in Emerging Economies, for their constructive suggestions for improvement. We are also grateful for all the comments and recommendation given by the reviewers and participants of 23rd International Congress on Social and Environmental Accounting Research, St. Andrews, United Kingdom, September 2011, on the first draft of this chapter presented at the conference.

Citation

Lungu, C.I., Caraiani, C. and Dascălu, C. (2014), "Reconsidering financial reporting from the perspective of corporate social and environmental responsibility. Romanian companies’ approach", Accounting in Central and Eastern Europe (Research in Accounting in Emerging Economies, Vol. 13), Emerald Group Publishing Limited, Leeds, pp. 205-234. https://doi.org/10.1108/S1479-3563(2013)0000013014

Publisher

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Emerald Group Publishing Limited

Copyright © 2013 Emerald Group Publishing Limited