NON-FINANCIAL AND MANAGEMENT REPORTING – INFORMATION TOOL OF RISK MANAGEMENT

Abstract

The publication purpose is to investigate the assessment of the place and role of non-financial and management reporting as an information tool for risk management in the management system of economic entities. This issue is especially relevant in the conditions of uncertainty caused by the challenges of the global pandemic and military actions by the russian federation on the territory of Ukraine. To achieve the set goal, the research process used general scientific research methods: empirical methods, in particular: observation and description, with the help of which the theoretical approaches of foreign scientists and scientists of Ukraine regarding the dissemination of non-financial reporting standards were studied: GRI, Progress Report (COP) within the framework of the Global Compact UN, ISO 26000, as the largest platform for promoting and stimulating corporate citizenship and sustainable development. The use of theoretical research methods made it possible to carry out an assessment to identify areas of benefit to the company from the making of non-financial and management reporting; graphic - for the analysis of the number of non-financial reports presented by Ukrainian enterprises in the section of economic sectors, the reporting practices of the TOP-20 largest agricultural companies of Ukraine. The justification methods made it possible to single out the advantages of the information presented in non-financial reporting, in particular: it is easier to get financing; it is easier to enter foreign markets; will have more opportunities to attract customers; will be able to maintain its reputation at a high level; will have useful information for business owners; the company will get opportunities to support its reputation in the information space. The use of the generalization method made it possible to single out the qualitative characteristics of information in management reporting, to form blocks of information that can be placed in a non-financial annual report, and to outline the place and role of non-financial and management reporting as an information tool for risk management. The practical significance of the obtained results lies in the possibility of risk management by business entities, provided that a coordinated system of management of all services of the business entity with top management is functioning.