Review article
https://doi.org/10.17234/SocEkol.29.2.3
The Analysis of the State of Non-Financial Reporting in Croatia in 2017 and 2018
Mislav Ante Omazić
orcid.org/0000-0001-5704-0108
; Ekonomski fakultet Sveučilišta u Zagrebu, Trg J. F. Kennedyja 6, 10 000 Zagreb
Nikolina Markota Vukić
Ivana Ravlić Ivanović
Kristina Cigula
Vali Marszalek
Branka Rösler
Abstract
Non-financial reporting is a way in which some companies define and report about their social roles from environmental, social and governance perspectives. Since 1st January 2017 the Accounting Law has made non-financial reporting legally binding for certain business entities. By passing this Law, Croatia has implemented the Directive 2014/95/EU of the European Parliament and the Council of Europe from 22nd October 2014 amending the Directive 2013/34/EU on the disclosure of non-financial and diversity information by certain large companies and groups, also known as non-financial reporting Directive. Such implementation into the national legal system aims to increase operational transparency of large companies as well as competitiveness of medium and small companies, by disclosing non-financial, or so-called ESG information, regarding the company's environmental and social impact. Two years after the initiation of this Law in Croatia, companies from private, public and civil sector came together to analyze the state of non-financial reporting in Croatia in 2017 and 2018. They analyzed the frameworks and content of non-financial reports from companies that were legally bound to submit such reports as well as from those who did so voluntarily. The analysis of the content of non-financial reports was conducted according to European Commission guidelines on non-financial reporting. The main aim of this initiative was to establish regular and systematic analysis of non-financial reporting in Croatia as well as offer recommendations for its improvement in order to aid the competitiveness of Croatian companies.
Keywords
non-financial reporting; state of non-financial reporting; analysis of non-financial reporting; Croatia; analysis criteria of non-financial reporting; materiality; corporate communication
Hrčak ID:
242294
URI
Publication date:
13.8.2020.
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