UARD Yearbook
COMPARATIVE ANALYSIS OF THE APPLICATION OF LEGISLATION IN THE EUROPEAN UNION REGARDING THE DEVELOPMENT OF THE SUSTAINABILITY REPORT (USING THE EXAMPLE OF FINLAND, ITALY, FRANCE, SPAIN, BULGARIA, GREECE AND SLOVAKIA)
Abstract
As the economy and society develop, stakeholders seek and companies begin to publish non-financial information. Sustainability reporting is the practice of measuring, disclosing and reporting to internal and external stakeholders on organizational performance to achieve a sustainable development goal. It is both a management and accountability tool. The sustainability report contains information necessary to understand the enterprise's impacts on sustainability issues, as well as the information necessary to understand how these issues affect the development, results and state of the enterprise. For sustainability, there should be descriptive information in the appendix to the annual financial report.
Keywords
References
Anastasova-Chopeva, M., Methodological approach to measuring social sustainability in agriculture, Sofia, Economics and Management of Agriculture, 64, 2/2019, p. 24.
Velikov, D., Contract policy as part of the company's marketing policy, Collection of papers from the conference "The role and place of economic mechanisms in the conditions of transition to a market economy", Shkorpilovtsi, University Publishing House - University of Economics - Varna, 1996.
Velikov, D., Distribution of marketing costs in industrial enterprises, Journal of the University of Economics - Varna, issue 2, 1998 Velikov, D., On marketing synergy in distribution channels, Varna, Izvestiya, (3), 2000.
Velikov, D., Negotiation, sustainability and their reporting, Collection of papers from the Jubilee International Scientific Conference "INTERDISCIPLINARY APPROACH IN THE APPLIED FIELD OF ECONOMIC AND SOCIAL SCIENCES", November 7, 2024, Plovdiv, Plovdiv University, 2024, pp. 4-5, in press.
Georgieva, V., Environmental costs in the corporate sector: analysis, accounting and disclosure, Monograph, KOALA PRESS, PLOVDIV, 2024.
Zinovieva, D., Competence of administrative bodies, Sofia, Siela, 2000.
Ivakhnenko, A. G., Inductive method of self-organization of complex system models, Kiev, Naukova Dumka, Kiev, 1982.
Yonkova, B., Methodological problems in the accounting treatment and reporting of environmental protection costs, Scientific works of the University of National and World Economy, (2), 2007, 174.
Yosifova, D., Reporting corporate sustainability - development, challenges and standardization in the EU, Yearbook of the Institute of Certified Public Accountants in Bulgaria 2022, 2022, p. 40.
Karas, Ch., Trade negotiations: 200 strategies and tactics, Colonel, Gabrovo, 1993.
Penchev, G., Environmental Law. General Part, Sofia, Feneya, 2011.
Staynov, P., (1970). Protection of Nature (Legal Studies), Sofia, 1970, pp. 12-18. In: Penchev, G., Environmental Law, General Part. Sofia, Feneya, 2011, pp. 19.
Stefanov, Sv., St. Grigorova. (2013). Theory of Accounting. Varna: Gea-Print Publishing House, Varna, 2013, pp. 95.
Stoyanov, A., Harmonization between European Standards for Sustainability Reporting and the Standards of the Global Reporting Initiative – Reality or Fiction?, IDES Journal, 2023, No. 4, pp. 1-2.
Todorova, T. (2000). Economic Essence of Transaction Costs Munich Personal RePEc Archive. Published in: Proceedings of the Young Scholars’ Conference “Science in Support of Business and Society”. Varna: May 12, 2000, p. 100.
Trifonov, T., Strategic Accounting Analysis of Value – A Revolutionary Stage in the Development of Accounting Science, Scientific Papers of the University of National and World Economy, Vol. 1, 2004.
Chipev, P., Transaction Costs in Institutional and Neo-Institutional Economic Theory, Proceedings of the Jubilee International Scientific Conference “Economic and Social (Dis)integration”, University Publishing House “Paisii Hilendarski”, 2019, p. 14.
Global Accountability Initiative, Accessed on 26.01.2025 https://www.globalreporting.org/
Law Academy, Retrieved November 20, 2024 from https://lawacademyebg.wordpress.com/kurs1/otp/otp44/
Guide to International Standards on Quality Control, Auditing, Review, Other Assurance Engagements and Related Services, Part 1, International Auditing and Assurance Standards Board, ISA 320, para. 14, p. 405, Last visited on 27.01.2025, https://www.ides.bg/media/1045/isa_2014_volume_1.pdf
Coase, R., The Nature of the Firm, Economica, Blackwell Publishing, 1937, 4 (16), pp. 386–405.
Coase, R., The problem of social cost, Journal of Law and Economics, 1960, (3), pp. 1-44.
Keaveny, E., With the EU Corporate Sustainability Reporting Directive (CSRD) now a reality for many organisations, conducting a double materiality assessment is a matter of urgency, July, 04, 2024, Retrieved October 10, 2024 from https://www.ey.com/en_ie/sustainability/csrd-how-to-manage-your-double-materiality-assessment.
Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013, Last visited on 27.01.2025, https://eur-lex.europa.eu/legal-content/BG/TXT/?uri=celex:32013L0034.
Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups, Last visited on 27.01.2025, https://eur-lex.europa.eu/legal-content/BG/TXT/?uri=CELEX:32014L0095&qid=1705146094833.
Commission Delegated Regulation (EU) 2018/815 of 17 December 2018 supplementing Directive 2004/109/EC of the European Parliament and of the Council by means of regulatory technical standards for the specification of the uniform electronic reporting format, Art. 3, Last visited on 27.01.2025, https://eur-lex.europa.eu/legal-content/BG/TXT/?uri=CELEX:32019R0815
REGULATION (EU) 2020/852 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 18 June 2020 establishing a framework to facilitate sustainable investment and amending Regulation (EU) 2019/2088, Art. 1, para. 1, Last visited on 27.01.2025, https://eur-lex.europa.eu/legal-content/BG/ALL/?uri=celex:32020R0852
Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 amending Regulation (EU) No 537/2014, Directive 2004/109/EC, Directive 2006/43/EC and Directive 2013/34/EU Downloaded from https://eur-lex.europa.eu/legal-content/BG/TXT/?uri=CELEX%3A32022L2464
Commission Delegated Regulation (EU) 2023/2772 of 31 July 2023 supplementing Directive 2013/34/EU of the European Parliament and of the Council, 2023, Retrieved from https://eur-lex.europa.eu/legal-content/BG/TXT/?uri=CELEX%3A32023R2772.
Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector, Retrieved from https://eur-lex.europa.eu/legal-content/BG/ALL/?uri=CELEX%3A32019R2088
Public Finance Act, 2020, Art. 164, Para. 1, Item 1, Last visited on 27.01.2025.
Accounting Act, Downloaded from https://www.ides.bg/media/2126/zakon_za_schetovodstvoto-1.pdf
IAS 1 Presentation of Financial Statements, Last visited on 10.20.2024, https://audit-bg.com/wp-content/uploads/dokumenti/MSS1.pdf
IAS 2 Inventories, Last visited on 10.12.2024, https://audit-bg.com/wp-content/uploads/dokumenti/MSS2.pdf
IAS 16 Property, Plant and Equipment, Last visited on 10.12.2024, https://audit-bg.com/wp-content/uploads/dokumenti/MSS16.pdf
IAS 36 “Impairment of Assets”, Last visited on 10.20.2024, https://audit-bg.com/wp-content/uploads/dokumenti/MSS36.pdf
IAS 37 Provisions, Contingent Assets and Contingent Liabilities, Last visited on 10.12.2024, https://audit-bg.com/wp-content/uploads/dokumenti/MSS37.pdf
IAS 38 Intangible Assets, par. 18, Last visited on 10.20.2024, https://audit-bg.com/wp-content/uploads/dokumenti/MSS38.pdf
IFRS 17 Insurance Contracts, par. 121-132, Last visit on 10.12.2024, https://audit-bg.com/wp-content/uploads/dokumenti/MSFO17.pdf
Accounting Act/Bokföringslag (1336/1997) of 30.12.1997, as last amended/ändrad senast genom (1249/2023) 21.12.2023, Retrieved from https://www.finlex.fi/en/laki/kaannokset/1997/en19971336_20161376.pdf
Accounting Act of November 12, 2024 Retrieved from https://eur-lex.europa.eu/legal-content/FI/TXT/PDF/?uri=NIM:202404957.
Act No 105/2024 amending Act No 431/2002 on accounting, as amended, and amending certain acts, available on: https://static.slov-lex.sk/pdf/SK/ZZ/2024/105/ZZ_2024_105_20240601.pdf
Decree No. 2023-1394 of 30 December 2023, 2023, 2023-1142 of 6 December 2023 on the publication and certification of sustainability information and the environmental, social and corporate governance obligations of commercial companies, available on: https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000048735301.
Government Gazette A' 202 from 12.12.2024, available on: https://eur-lex.europa.eu/legal-content/EL/TXT/PDF/?uri=NIM:202500258.
LEGISLATIVE DECREE 6 September 2024, n. 125, Retrieved from https://eur-lex.europa.eu/legal-content/IT/TXT/PDF/?uri=NIM:202403926
The Draft of the Corporate Sustainability Reporting Law, available on: https://www.congreso.es/public_oficiales/L15/CONG/BOCG/A/BOCG-15-A-38-1.PDF
IFRS S1. General Requirements for Disclosure of Sustainability-related Financial Information, par. 18, Retrieved from https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards-issb/english/2023/issued/part-a/issb-2023-a-ifrs-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information.pdf
ESRS–ISSB Standards Interoperability Guidance. 2024, p. 4. Retrieved from. https://www.ifrs.org/content/dam/ifrs/supporting-implementation/issb-standards/esrs-issb-standards-interoperability-guidance.pdf
ESRS Starter Pack, Last seen on 28/01/2025, https://help.sap.com/docs/SAP_SUS_SCT/21ecfb83f8d14e5982b7af315da5889a/ba6549ca9bd648f6a8e2aab39a02f5e4.html
The transposition of the CSRD, available on: https://eur-lex.europa.eu/legal-content/bg/NIM/?uri=CELEX:32022L2464
Using the Generate ESG Reports with AI Application, Last seen on 28/01/2025, https://help.sap.com/docs/SAP_SUS_SCT/21ecfb83f8d14e5982b7af315da5889a/18cf5f4b2f284685bdf765661000d521.html
Refbacks
- There are currently no refbacks.
Copyright (c) 2025 Diyan Velikov
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
ISSN 1314-9113 (print), ISSN 2535-0609 (on-line)
For registration, please contact: science@uard.bg
Because of security reasons the registration is made by the editor.