Academic literature on the topic 'Non-financial Reporting (NFR)'
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Journal articles on the topic "Non-financial Reporting (NFR)"
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La Torre, Matteo, Svetlana Sabelfeld, Marita Blomkvist, and John Dumay. "Rebuilding trust: sustainability and non-financial reporting and the European Union regulation." Meditari Accountancy Research 28, no. 5 (August 11, 2020): 701–25. http://dx.doi.org/10.1108/medar-06-2020-0914.
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Purpose This paper introduces the special issue “Rebuilding trust: Sustainability and non-financial reporting, and the European Union regulation”. Inspired by the studies published in the special issue, this study aims to examine the concept of accountability within the context of the European Union (EU) Directive on non-financial disclosure (hereafter the EU Directive) to offer a critique and a novel perspective for future research into mandatory non-financial reporting (NFR) and to advance future practice and policy. Design/methodology/approach The authors review the papers published in this special issue and other contemporary studies on the topic of NFR and the EU Directive. Findings Accountability is a fundamental concept for building trust in the corporate reporting context and emerges as a common topic linking contemporary studies on the EU Directive. While the EU Directive acknowledges the role of accountability in the reporting practice, this study argues that regulation and practice on NFR needs to move away from an accounting-based conception of accountability to promote accountability-based accounting practices (Dillard and Vinnari, 2019). By analysing the links between trust, accountability and accounting and reporting, the authors claim the need to examine and rethink the inscription of interests into non-financial information (NFI) and its materiality. Hence, this study encourages research and practice to broaden mandatory NFR practice over the traditional boundaries of accountability, reporting and formal accounting systems. Research limitations/implications Considering the challenges posed by the COVID-19 crisis, this study calls for further research to investigate the dialogical accountability underpinning NFR in practice to avoid the trap of focusing on accounting changes regardless of accountability. The authors advocate that what is needed is more timely NFI that develops a dialogue between companies, investors, national regulators, the EU and civil society, not more untimely standalone reporting that has most likely lost its relevance and materiality by the time it is issued to users. Originality/value By highlighting accountability issues in the context of mandatory NFR and its linkages with trust, this study lays out a case for moving the focus of research and practice from accounting-based regulations towards accountability-driven accounting change.
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Williams, Belinda, Sumit Lodhia, Mitali Panchal Arora, and Lisa McManus. "The institutional change in the role of the public sector accountant in facilitating accountability: a longitudinal study of Australian local councils." Managerial Auditing Journal 36, no. 2 (February 22, 2021): 314–33. http://dx.doi.org/10.1108/maj-02-2020-2558.
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Purpose With an increased focus on the need for higher levels of accountability and transparency in the public sector, this study aims to provide insights into non-financial reporting (NFR) practices as a mechanism in facilitating accountability. This study also aims to investigate the changing role of the public sector accountant in this process, specifically focusing on the Australian local government sector. Design/methodology/approach The authors used a mail survey across two time periods, 2009 and 2017, to analyse the role of accountants in NFR practices. Institutional theory provides a theoretical framing for the study. Findings The findings reveal an increase in the use of accountants across time in the preparation of voluntary information, being used in a variety of roles because of their financial abilities and analytical skills. The results also indicate a shift has occurred with more emphasis being placed on cross-departmental approaches to NFP incorporating the accountant. These results suggest a greater recognition of the role of accountants in NFR and a dilution of accountant’s boundaries in relation to their existing traditional focus. Research limitations/implications This study contributes to the academic NFR literature by providing evidence of an institutional shift that is occurring with the accountant’s role widening to a broader context beyond their traditional roles. Practical implications This longitudinal study provides practical evidence to management of the potential offered by accountants as the public sector seeks to achieve higher levels of accountability and transparency. Policy implications also arise in relation to the need for development of quality assurance guidelines and further education and training as the public sector embarks on the journey of NFR. Originality/value To the best of the authors’ knowledge, this study is the first that has explored the evolution of NFR over a period of time through its focus on the role of accountants.
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Lucchese, Manuela. "Country-specific institutional effects on non-financial disclosure level: Evidence from European listed banks." Corporate Ownership and Control 17, no. 4 (2020): 166–82. http://dx.doi.org/10.22495/cocv17i4art14.
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This study investigates the relationship between disclosure level of GRI-compliant non-financial statements, provided to conform with the Directive 2014/95/EU, and cross-country societal variables (Hofstede’s cultural dimensions, political and civil systems, legal system and level of economic development) of the European listed banks, using the political economic theory. It analyzes the banks listed in the stock markets of 18 European countries for 2016-2018. The data was collected from the BvD BankFocus database, selecting 134 bank-year observations. A disclosure index based on the GRI framework compliant to the Directive was determined to measure the non-financial reporting disclosure. The findings, partially consistent with the previous literature, show for the banks a significant negative influence of power distance, masculinity, indulgence, the legal system, and level of economic development on the non-financial disclosure. Moreover, the results evidence a significant positive association between individualism, long-term orientation, indulgence, and political and civil system on the non-financial disclosure level. This study contributes to the international debate on how the socio-cultural-economic institutional factors affect non-financial disclosure expectations in the banking sector. Furthermore, understanding the effect of cross-country societal factors on NFR disclosure under EUD might benefit managers when implementing social and environmental strategies in all socio-cultural institutional settings. It might help regulators and policy-makers when adopting new legislation and making reforms dealing with social and environmental laws.
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Raucci, Domenico, and Lara Tarquinio. "Sustainability Performance Indicators and Non-Financial Information Reporting. Evidence from the Italian Case." Administrative Sciences 10, no. 1 (February 26, 2020): 13. http://dx.doi.org/10.3390/admsci10010013.
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Non-financial reporting is a growing topic, and the adoption of the EU Directive 2014/95/EU on non-financial information (NFI) is increasing the use of this reporting. One of the most distinctive elements of guidelines and standards that are widely used to draw-up reports on NFI is sustainability performance indicators (SPIs). SPIs can provide a significant value-added to non-financial corporate communication, and they are useful tools to support internal decision-making processes. The purpose of this study is to examine the effects produced on SPIs disclosure by the entry into force of the Italian Decree implementing the Directive on NFI. Content analysis method is used to analyze indicators disclosed by Italian companies before and after the adoption of the Decree. Findings show that each category of SPIs was largely used by the companies of our 2012 sample, but a reduction of the quantity of indicators disclosed was documented in 2017. Therefore, after the introduction of mandatory disclosure of NFI, companies seem to focus only on indicators considered more “relevant” according to the Directive. This research represents one of the preliminary analysis on the adoption of the Directive in Italy and on its first effects on NFI reporting practices.
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Cantino, Valter, Alain Devalle, Simona Fiandrino, and Donatella Busso. "The level of compliance with the Italian Legislative Decree No. 254/2016 and its determinants: Insights from Italy." FINANCIAL REPORTING, no. 1 (June 2019): 113–43. http://dx.doi.org/10.3280/fr2019-001004.
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The present research explores non-financial mandatory disclosure in Italy in light of the recent Italian Legislative Decree No. 254/2016, which transposes the Directive 2014/95/EU on "the disclosure of non-financial and diversity information". The study pursues a twofold aim: first, it seeks to measure the level of compliance of non-financial information (NFI) with non-financial mandatory disclosure; and second, it seeks to identify which determinants favor higher compliance levels in the first year of the regulatory adequacy. To these ends, the study examines the non-financial 2017 statements of 50 listed Italian companies to test by means of a NFI Disclosure Score three determinants that could explain the level of compliance. The NFI Disclosure Score was set at 52.58%. Moreover, findings suggest that the type of reporting channels (stand-alone report or disclosure included in the Annual Report), the Guidelines Reporting Initiative (GRI) options chosen by the companies, and the presence of the Corporate Social Responsibility (CSR) Committee within the board all affect compliance levels. This study is one of the first research conducted on mandatory NFI disclosure providing indications for regulators and companies on how to improve NFI disclosure.
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Tarquinio, Lara, and Stefanía Carolina Posadas. "Exploring the term “non-financial information”: an academics’ view." Meditari Accountancy Research 28, no. 5 (May 1, 2020): 727–49. http://dx.doi.org/10.1108/medar-11-2019-0602.
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Purpose With the European Union (EU) Directive 2014/95/UE, there is a growing interest in the corporate disclosure of “non-financial information” (NFI). However, no generally accepted definition of this term exists. This paper aims to reflect on the meaning and importance of the NFI definition by investigating how this term is defined in the literature and by exploring scholars’ cognitive perceptions of its meaning. Design/methodology/approach Two different research methods were used. A systematic literature review of NFI definitions was integrated with a survey to a sample of Italian scholars working on the NFI research topic. Findings This study demonstrates that the meaning of NFI is still ambiguous and multifaceted as neither a common understanding nor a single and generally accepted definition of the term exists. As the advent of the EU directive, this term has often referred to information about society and the environment, though most academics define and understand NFI differently, as corporate social responsibility (CSR) issues, intellectual capital information and information that are external to financial statements. These definitions pave the way for conceptualising NFI as a genus and its different understandings (i.e. CSR, ESG information, etc.) as species. Therefore, what constitutes NFI is open to interpretations. Research limitations/implications This paper contributes to enriching the literature on the meaning of NFI and providing further insights into explaining the heterogeneity of the NFI definition. Practical implications This paper provides researchers, practitioners and regulators with some novel insights into the meaning and understanding of NFI. It provides regulators and standard setters with knowledge for building a commonly accepted definition of NFI. Meanwhile, policymakers, regulators, practitioners and academics can contribute to establishing a definition by following three approaches: regulative, open and adaptive. This can help to avoid the risk of an information gap among stakeholder expectations, regulator requests and NFI reporting in practice. Originality/value The literature focussing on the meaning of NFI is still scarce. This study contributes to extending the knowledge of how the term NFI is defined and understood by academics.
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Loprevite, Salvatore, Domenico Raucci, and Daniela Rupo. "KPIs Reporting and Financial Performance in the Transition to Mandatory Disclosure: The Case of Italy." Sustainability 12, no. 12 (June 25, 2020): 5195. http://dx.doi.org/10.3390/su12125195.
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European companies of public interest requested to comply with the Directive 2014/95/EU on Non-Financial Information (NFI) are allowed to fulfil the regulatory obligation following the Global Reporting Initiative (GRI) guidelines, which constitute at present the most widely spread framework for sustainability reporting. Given such prevalence, this paper examines the level of disclosure on Key Performance Indicators (KPIs) and its relationship with financial performance over the period 2016–2018 for Italian-listed companies adopting GRI guidelines to convey NFI under the Decree 254/2016. The research applies content analysis of the annual and sustainability reports to measure the disclosure index on KPIs, and Data Envelopment Analysis (DEA) to estimate the financial performance. A Tobit-regression model explores the nexus between financial performance and companies’ disclosure. Findings show a decrease in the disclosure levels in the early adoption of mandatory NFI and a significant association with the financial performance of the sampled companies. The study, assuming a comprehensive view of the financial indicators, improves our knowledge of the relationship between sustainability disclosure and financial performance and adds to the literature on the evolution of NFI in the transition from voluntary to mandatory regime.
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Venturelli, Andrea, Fabio Caputo, Rossella Leopizzi, and Simone Pizzi. "The state of art of corporate social disclosure before the introduction of non-financial reporting directive: a cross country analysis." Social Responsibility Journal 15, no. 4 (June 3, 2019): 409–23. http://dx.doi.org/10.1108/srj-12-2017-0275.
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Purpose According to the Directive 2014/95/EU on non-financial information (NFI), from 2017 onwards, large companies of member states will be required to provide a series of social, environmental and governance disclosures. This paper, focusing on the evaluation of the quality of NFI in the UK and Italy before the implementation of the EU Directive, aims to investigate which factors affect the quality of NFI in the comparison between the UK and Italy. Design/methodology/approach To evaluate the “state of the art” of NFI in corporate social disclosure of British and Italian listed companies, a non-financial score is created, based on specific items concerning the requirements of the EU Directive. To this aim, the authors analyzed the corporate disclosures of 343 large listed companies. Findings Findings show that the UK is more compliant than Italy. So, regulation could be important to improve NFI in Italy more than in the UK. The results could represent relevant evidence for European policymakers of the action agenda “emphasizing the importance of national and sub-national CSR policies”. Originality/value This research represents a preliminary analysis on the EU Directive and on its potential effects. Moreover, this study strengthens the previous literature on the quality of non-financial disclosure.
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Berniak-Woźny, Justyna, and Magdalena Wójcik-Jurkiewicz. "The Impact of the NFI Directive on the Scope and Quality of Financial Institutions’ CSR Reporting – the Case of the Polish Banking Sector." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 18 (May 4, 2021): 780–93. http://dx.doi.org/10.37394/23207.2021.18.74.
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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.
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Matuszak, Łukasz, and Ewa Różańska. "Towards 2014/95/EU directive compliance: the case of Poland." Sustainability Accounting, Management and Policy Journal 12, no. 5 (May 13, 2021): 1052–76. http://dx.doi.org/10.1108/sampj-02-2020-0042.
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Purpose This study aims to investigate the differences in the extent of non-financial disclosure (NFD) across companies listed on the Warsaw Stock Exchange over the period surrounding the implementation of the Directive 2014/95/EU. Design/methodology/approach The sample comprising 134 selected companies. Content analysis and a disclosure index were used to measure the level of NFD. Non-financial reporting practices in the two years before (2015) and one year after (2017) the implementation of the Directive were compared. Findings The results highlight that there is already a high level of compliance with the European Union’s regulation. The extent of the NFD across different thematic aspects in reporting media increased significantly between 2015 and 2017 in particular in human rights and anti-corruption. The Directive had the largest impact on those firms with previously low levels of NFD and led to more homogeneity of NFD across different industries. Originality/value The study contributes to the understanding of the impact of the Directive on the NFD practices by European Union companies. The research has important implications for policymakers because it revealed that mandatory regulations form a crucial instrument in improving the harmonization of NFD. The research suggests that, due to the Directive, stakeholders should be provided with more comprehensive information that they need in their decision-making process.
Dissertations / Theses on the topic "Non-financial Reporting (NFR)"
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Landén, Emma, Lukas Berntsson, and Maja Törnqvist. "Transparency and Disclosure – Are We Doing Enough? : The NFRD’s effect on transparency and its benefits for actors in the Swedish food industry." Thesis, Jönköping University, IHH, Företagsekonomi, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-52871.
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Abstract Problem: As sustainability grows larger in importance for consumers, so does the demand for information on companies’ sustainability work. In this situation, greenwashing has become a viable strategy for companies to use as a competitive advantage. Therefore, the EU came with a new directive in order to counteract this type of misleading behavior, the non-financial reporting directive (NFRD). Although many positive outcomes have come from non-financial reporting, the aspect of transparency remains uncharted. Purpose: The purpose of this study is twofold. Firstly, it investigates how the non-financial reporting EU directive has impacted the transparency towards business partners active within the Swedish food industry. Secondly, the purpose is to explore how the Swedish non-financial reporting law benefits actors within the food industry. This paper embraces stakeholder theory. For the purpose of researching the topic of this paper, food production companies in Sweden were specifically chosen to narrow down the sample. Aim: This study aims to investigate the impacts of the NFRD on transparency and external communication, and through this, evaluate the efficiency of the directive and Swedish national law, which derives from the multi-national legislation, on transparency. Method: In this research, interpretivism was used as the guiding research approach. Being a qualitative study, semi-structured interviews were used as the primary source of data collection. Interviews were transcribed, and then coded and analyzed according to standard procedures. Result and Conclusion: The results of the empirical findings were that the directive does not impact the transparency on Swedish partners at any significant level. It was also found that the primary benefits of the national non-financial reporting law of Sweden are not directed towards customers or partners, but rather the focal business, investors, and competitors. The main benefits were that the reports raised awareness for sustainability within the firm, they are of great use for benchmarking, as well as that the reports serve as useful information for green investors.
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Björklund, Jacqueline. "Reviewing the Non-Financial Reporting Directive : An analysis de lege lata and de lege ferenda concerning sustainability reporting obligations for undertakings in the EU." Thesis, Uppsala universitet, Juridiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-431664.
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The Non-Financial Reporting Directive (“NFRD”),[1]is an important contributor to the European Union’s (EU) goal of creating a more sustainable future for all. By requiring large public-interest entities to report non-financial information relating to sustainability matters, the NFRD increases business transparency and gives stakeholders the opportunity to make more informed investment decisions, monitor corporate activities and initiate discussions based on current practices. The purpose of this thesis is to analyze the NFRD as it stands today and to analyze in what way the NFRD has the potential to improve by chiefly using the legal dogmatic method. The thesis reached its completion with an appropriate timing (January 2021) as the EU has announced its ambition to revise the NFRD by the first quarter of 2021. The conclusion drawn is that the NFRD should be revised on a series of points. Most importantly, reliability of the provided information should be secured through a stronger verification mechanism. Other areas for improvement concern the enlargement of the scope of the NFRD and the implementation of further measures securing comparable data. [1]Directive 2014/95/EU.
Book chapters on the topic "Non-financial Reporting (NFR)"
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Monteiro, Sónia, Verónica Ribeiro, and Kátia Lemos. "Linking Corporate Social Responsibility Reporting With the UN Sustainable Development Goals." In Conceptual and Theoretical Approaches to Corporate Social Responsibility, Entrepreneurial Orientation, and Financial Performance, 134–51. IGI Global, 2020. http://dx.doi.org/10.4018/978-1-7998-2128-1.ch007.
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The approval of the 17 Sustainable Development Goals (SDG) within the 2030 United Nations Agenda represents a historic mark for sustainable development, allowing to companies to seek solutions that add value and solve the greatest global challenges, by linking organizational strategies and global priorities. Thus, listed companies will need to be able to assess their impact on the SDGs and review their strategies accordingly. Therefore, reporting can play a key role by informing the progress of listed companies in alignment with the SDGs. This article aims to analyse how Portuguese listed company reporting includes their contributions toward the SDGs. The study methodology is based on content analysis of the sustainability reports (SR) and non-financial statements (NFS) published in 2017, seeking to characterize the Portuguese listed companies that are concerned with SDG-related disclosure. The results indicate that from a sample of 46 listed companies, only 12 published SR or NFS, but 9 companies made the alignment with the UN goals.