Open AccessINCLUSIVE APPROACH TO THE COMPOSITION OF INTEGRATED ACCOUNTABILITY
Author(s) -
Anna Anatolyevna Alenkina,
Anna Aleksandrovna Solonenko
Publication year - 2017
Publication title -
vestnik astrahanskogo gosudarstvennogo tehničeskogo universiteta. seriâ: èkonomika
Language(s) - English
Resource type - Journals
eISSN - 2309-9798
pISSN - 2073-5537
DOI - 10.24143/2073-5537-2017-4-137-144
Subject(s) - integrated reporting , honesty , reputation , quality (philosophy) , business , meaning (existential) , accountability , profitability index , public relations , process management , sustainability , sociology , political science , law , finance , social science , epistemology , philosophy , ecology , biology
In current economic environment the parameter "stability" is not sufficiently revealing the economic growth of a business entity: business must be inclusive, i.e. focused not only on profitability, but also on giving support in a social aspect and leveling a threatening impact on the environment. Such approach involves developing new tools, principles and methods of evaluating the effectiveness of inclusive corporate policy. Reporting attests to the honesty of the governing body, long-term prospects and reputation of the company. The article considers a concept "integrated thinking", which was newly introduced into the theory of management. Integrated thinking should transform the decision-making processes, so that the benefits to business, society and the environment coincide. The meaning of a notion "integrated reporting" has been described. Integrated reporting implies a necessity of long-term planning and stimulates to regard business in a much broader sense than cash flows, develops corporate culture of collaboration and focuses on creating values for business and society. There have been enumerated main difficulties in the course of introducing the reporting of a new format which is considered as evolutionary; has been underlined the need to comply with high quality terms and to aim at integrated reporting, which guarantees assurance in the efficiency of the company for the interested parties. Like many great ideas, integrated reporting reminds the maxim "peace in the world", a holistic consideration of a business entity as a potential creator of the total cost, as the interweaving of financial, ethical, social and environmental factors, requires going beyond narrowly based business.