European Union Regulations of Corporate Reporting As a Response to the Evolution of Business Activity Conditions

Ryszard Kami¨½ski

Applied Finance and Accounting, 2016, vol. 2, issue 1, 40-47

Abstract: The characteristic feature of today¡¯s business communication is an interaction between enterprises and their external economic and social environment, which in turn demands from enterprises to develop a new approach to the scope and form of business reporting system. Activities in this area have been taken in the European Union. They were intensified after the emergence of the economic crisis in 2007. The European Union adopted new regulations on corporate reporting. Their goal was to increase business transparency and as a result - increase the efficiency of the economy. This article aims to present the new system of financial and non-financial reporting in the European Union and to evaluate these systems, focusing in particular, on the recent developments that have occurred in consequence of the changing conditions and operating environment of undertakings.

Keywords: financial statement; auditing; supervision; reporting standards; EU directives (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:rfa:afajnl:v:2:y:2016:i:1:p:40-47

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