RESEARCH OF THE PRACTICE OF USING INTEGRATED THINKING IN THE FORMATION OF CORPORATE REPORTING

Abstract

In conditions of economic uncertainty, issues related to the disclosure of information in corporate reporting focused on a wide range of stakeholders are of paramount importance, which requires analysis and generalization of best practices in this area. The process of improving corporate reporting, associated with numerous criticisms of the value of financial and various types of non-financial reporting, has led to the emergence of integrated reporting. Today, corporate reporting of large companies includes a wide range of financial and non-financial reports, a number of companies form integrated reporting. The emergence of integrated reporting is associated with the requirements for companies to provide information on financial performance, corporate governance and sustainability, aimed at various stakeholders. Integrated reporting acts as a means to an end within the company’s strategy, while the integrated report discloses financial and non-financial information regarding the company’s value creation process and the use of six types of capital, as well as aspects related to sustainable development. Integrated reporting is the highest level of corporate reporting maturity, involving the use of integrated thinking not only for reporting purposes, but also in a much broader context. The article is aimed at studying the current practice of applying integrated thinking in the formation of corporate reporting in foreign companies. The study of the practice of applying integrated thinking in the formation of corporate reporting in foreign companies was aimed, firstly, at identifying the factors that prompted the use of integrated thinking, and secondly, to generalize the features of the formation of corporate reporting based on integrated thinking; thirdly, to review the tools used in order to form corporate reporting based on integrated thinking; fourthly, to summarize the results of using integrated thinking in the preparation of corporate reporting. The study can be useful for specialists who form the corporate reporting model of the organization, managers and decision makers aimed at implementing the Concept of sustainable development, achieving sustainable development goals, and ensuring inclusive economic growth.