№ 11/2019

Fìnansi Ukr. 2019 (11): 31–43https://doi.org/10.33763/finukr2019.11.031

MONITORING SUSTAINABLE DEVELOPMENT GOALS

OLIYNYK Yana ¹, KUCHERIAVA Maria ²

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/
²SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0003-2948-1234

Improvement of legislation for non-financial reporting in Ukraine as the result of cooperation with international institutions

The article outlines the issues of the development of regulatory support for the preparation of non-financial reporting, in particular the necessity: to improve the institutional support for the preparation and administration of companies’ non-financial reporting; to eliminate the information asymmetry for such reporting in order to create the framework for its harmonization and comparability; to ensure further implementation of EU directive provisions and requirements. The results of cooperation between SESE “The Academy of Financial Management” (the Academy) and Intergovernmental Working Group of Experts on International Accounting and Reporting Standards (UNCTAD-ISAR) are outlined in the context of solving the issues and development of unified approach for determination of measures for unification of non-financial reporting and alignment of companies’ core indicators with macro-indicators of Sustainable Development Goals’ attainment. The necessity of assisting the enterprises in the preparation of the management report for disclosure of qualitative, relevant, useful financial and non-financial information to different stakeholders is substantiated. The results of preparation on behalf of the Ministry of Finance of Ukraine of the draft Practical Commentary on Preparing Management Report are presented (the draft). The draft is prepared in accordance with the requirements of national legislation and recommendations of international documents and initiatives on preparation of non-financial reporting. The draft expands the requirements of mentioned above documents with taking into account the specific issues of domestic entities’ activities. The developed document contains the provisions on principles, content and procedure for preparation of the management report, the list of indicators including the economic, environmental, social and managerial aspects of entities’ activities. The application of the draft recommendation will enhance the accountability and transparency of entities’ activities through the disclosure of qualitative information in the management report.

Keywords:Sustainable Development Goals, non-financial reporting, management report, Intergovernmental Working Group of Experts on International Accounting and Reporting Standards (UNCTAD-ISAR)

JEL: M41, M48, M49, Q01

OLIYNYK Y. . Improvement of legislation for non-financial reporting in Ukraine as the result of cooperation with international institutions / Y. . OLIYNYK , M. Kucheriava // Фінанси України. - 2019. - № 11. - C. 31-43.

Article original in Ukrainian (pp. 31 - 43)

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