STANDARDIZATION OF COMPLETE CONTENT OF INTEGRATED CORPORATE REPORTING

Abstract

The purpose of the article is to consider the new global standards IFRS S1 "General requirements for disclosure of financial information related to sustainable development" and IFRS S2 "Disclosure of information related to climate" and the timeline of their implementation. In the course of the study, general scientific and special research methods were used, in particular: logical, induction and deduction, monographic - when presenting the research results; corporate analysis - when establishing the distinctive features of IFRS S1 and IFRS S2 from existing standards; abstract-logical - for generalisation and formulation of conclusions, graphical - when presenting a schematic representation of the timeline for the implementation of the IFRS Taxonomy in accordance with the requirements of IFRS S1 and IFRS S2. The necessity of standardising the content of corporate reporting and bringing it in line with the requirements of today is substantiated. The standards for the preparation of non-financial reporting of companies that are most widely used in the world practice are considered. The latest standards IFRS S1 and IFRS S2, their content and structure are analysed. Their distinctive features from the existing ones are identified. It is proved that their implementation will ensure disclosure of information in the reporting of business entities in accordance with the global baseline of requirements. The author demonstrates the timeline for the implementation of the IFRS Taxonomy in accordance with the requirements of IFRS S1 and IFRS S2. The scientific novelty consists in proving the need to introduce IFRS S1 and IFRS S2 for the formation of integrated corporate reporting in domestic practice, by distinguishing their distinctive features from the previously introduced standards for the formation of financial and non-financial reporting. The main results of the study can be used by companies in the formation of integrated corporate reporting according to the latest approach provided by IFRS S1 and IFRS S2, which will provide an opportunity for investors and interested parties to have globally comparable information related to sustainable development, which potentially in the short, medium and can change the market value of the business in the long run.