Affiliation:
1. College of Management, University of Information Technology and Management, 2 Sucharskiego St., Rzeszów, Poland
2. Department of Accounting, College of Management Sciences and Quality, Cracow University of Economics, 27 Rakowicka St., Cracow, Poland
Abstract
Until recently, CSR reporting in most EU countries was voluntary and not regulated by the State. However, many, especially large companies, have disclosed additional non-financial information on a voluntary basis in various ways. The situation changed with the entry into force of the EU Directive on disclosure of non-financial and diversity information, which required over 6,000 EU companies to report non-financial information. The aim of the article is to examine how the implementation of Directive 2014/95 / EU influenced the scope and quality of CSR reporting practices of financial institutions on the example of the Polish banking sector. The analysis in this study covered the content of non-financial information of the largest Polish banks listed on WIG Banki, a sub-index of the Warsaw Stock Exchange. The findings indicate that the banking sector reporting practices, although significantly improved, are still at an early stage. To the best of the authors’ knowledge, the research results are the first to present an in-depth analysis of the impact of the NFI Directive on the CSR reports of financial institutions and their reviews. The findings of this study adds to our current knowledge and provides an overview of banking sector reporting practices, showing strengths and weaknesses in this area. The characteristics of banking sector practices presented in this document can help other financial institutions with CSR reporting and encourage them to adhere to recognized standards.
Publisher
World Scientific and Engineering Academy and Society (WSEAS)
Subject
Economics and Econometrics,Finance,Business and International Management
Reference58 articles.
1. Directive 2014/95/EU (NFRD) 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; EU law: Brussels, Belgium.
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