THE ROLE OF THE ACCOUNTING AND AUDITING PROFESSION IN INTEGRATED REPORTING

Militaru Elian-Gabriel and Lapadat Mihai-Valentin-Catalin
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Militaru Elian-Gabriel: UNIVERSITY OF CRAIOVA, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, CRAIOVA, ROMANIA
Lapadat Mihai-Valentin-Catalin: UNIVERSITY OF CRAIOVA, FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, CRAIOVA, ROMANIA

Annals - Economy Series, 2024, vol. 3, 260-271

Abstract: Integrated Reporting represents an extension of accounting and auditing practices, drawing upon a reporting framework grounded in principles of integrated thinking. The comprehensive and high-quality information generated through this framework is presented to users with the aim of providing them with additional value. The intuitive, intelligible, reliable, concise, and complete manner of reporting multiple capital in a straightforward way is attributed to both the professional training, competence, and experience of accounting and auditing professionals, as well as the management's support for this process. Understanding and applying the principles of integrated thinking to the construction of the overall integrated reporting framework enables the presentation of comprehensive and high-quality information, which forms the basis for reporting and auditing. The way an integrated report is represented emphasizes the aggregation of the three-line model: the role of management, the role of accounting, and the role of internal/external audit, all of which are essential in determining the quality of the integrated report. This triple role and the benefits brought about by its completion in determining the information presented through integrated reporting constitute the main objective of this paper.

Keywords: Integrated reporting; governance; internal audit; accounting; and internal assurance (search for similar items in EconPapers)
Date: 2024
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