Implications of “Directive on Disclosure of Non-Financial and Diversity Information” on Croatian Companies’ Reporting System

Ksenija Cerne, Tea Hasic and Adriana Galant
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Ksenija Cerne: Juraj Dobrila University of Pula, Faculty of economics and tourism
Tea Hasic: Juraj Dobrila University of Pula, Faculty of economics and tourism
Adriana Galant: Juraj Dobrila University of Pula, Faculty of economics and tourism

from University of Primorska Press

Abstract: Implementation of Directive on disclosure of non-financial and diversity information in EU member states represents the first step in making this segment of reporting mandatory. Although, only some companies (mostly the largest undertakings and public interest entities) will be obligated to issue non-financial reports, the number of disclosed reports on corporate social responsibility and sustainability issues is expected to increase significantly. The Croatian Accounting Act has been adjusted to the requirements of this Directive, thus the non-financial reporting has become mandatory in Croatia, at least for some companies. However, compared to some other EU member states the number of companies obligated to prepare the non-financial report is higher due to wider definition of public interest companies. Currently, only a small proportion of Croatian companies disclose nonfinancial reports on voluntary basis. These are mostly large companies operating in manufacturing sector. However, the number of issued non-financial reports will increase in year 2017 as a result of mentioned Directive implementation.

Keywords: non-financial reporting; corporate social responsibility; Directive; Croatia (search for similar items in EconPapers)
Date: 2017
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