A Review of Corporate Reporting Transparency Quality: Current Status and Future Directions

Yashodha Madhavi Hewage, Arusha Cooray and Rafiuddin Ahmed

Australian Accounting Review, 2026, vol. 36, issue 1, 52-89

Abstract: This paper critically assesses the current state of the literature and sets an agenda for future research on Corporate Reporting Transparency Quality (CRTQ) in formal corporate reporting. Employing a systematic literature review approach that follows the Preferred Reporting Items for Systematic Reviews and Meta‐Analyses (PRISMA) model and analysing a total of 70 papers, 65 from top‐ranked journals and five from peer‐reviewed journals published between May 2002 and May 2025, the analysis reveals the absence of a clear and universally accepted definition of CRTQ. This highlights the need to broaden the conceptual scope to encompass financial, governance, operational, social, environmental and risk dimensions. The findings further emphasise the importance of adopting multiple theoretical perspectives to capture the multifaceted nature of CRTQ. Existing studies predominantly rely on disclosure indices that measure the quantity over its quality of information, exposing a critical gap in the literature and demonstrating the need for a multidimensional framework for comprehensive CRTQ assessment. Through a systematic synthesis of existing knowledge and the identification of key theoretical, methodological and empirical gaps on CRTQ, this review offers valuable insights and directions for academics, practitioners and regulators committed to enhancing CRTQ.

Date: 2026
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