Non-financial information in IBEX35: Comparison of voluntary vs compulsory elaboration and assurance

IF 1 Q4 MANAGEMENT

Intangible Capital Pub Date : 2021-01-01 DOI:10.3926/ic.1758

Esther Ortiz, Iryna Didychuk

{"title":"Non-financial information in IBEX35: Comparison of voluntary vs compulsory elaboration and assurance","authors":"Esther Ortiz, Iryna Didychuk","doi":"10.3926/ic.1758","DOIUrl":null,"url":null,"abstract":"Purpose: Large companies are used to elaborating and verifying non-financial information voluntarily. In Spain, it is compulsorily required after Law 11/2018. These new compulsory requirements have led us to study how the previous voluntary practices have been modified and if there is a connection between the auditing and providing assurance company. Design/methodology: The studied sample compiles companies listed on IBEX 35 in 2018 to analyze the first year of application of Law 11/2018, 2018, and the previous one, the year 2017, when this information was voluntarily disclosed. We have created a database with features of non-financial information to carry out a descriptive analysis segmenting the sample by year, cross tables and chi-square tests. Findings: Big Fours are the companies that provide assurance of non-financial information as well as audit the financial information of listed companies. Law 11/2018 has not implied important changes for the IBEX 35 companies because what was compulsorily required at first was previously voluntarily done, i.e. the majority of companies have already applied GRI (Global Reporting Initiative) standards when it was voluntary and also when compulsory and they keep including non-financial information in the management report. It has been also checked that auditing and providing assurance firms are specialized by sectors. Originality/value: Currently there is an intense discussion about the future of non-financial information regulation in Europe. The expected changes will affect the Spanish regulation as a Member State. It is a need to contextualize the starting point.","PeriodicalId":45252,"journal":{"name":"Intangible Capital","volume":null,"pages":null},"PeriodicalIF":1.0000,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Intangible Capital","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3926/ic.1758","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"MANAGEMENT","Score":null,"Total":0}

引用次数: 0

Abstract

Purpose: Large companies are used to elaborating and verifying non-financial information voluntarily. In Spain, it is compulsorily required after Law 11/2018. These new compulsory requirements have led us to study how the previous voluntary practices have been modified and if there is a connection between the auditing and providing assurance company. Design/methodology: The studied sample compiles companies listed on IBEX 35 in 2018 to analyze the first year of application of Law 11/2018, 2018, and the previous one, the year 2017, when this information was voluntarily disclosed. We have created a database with features of non-financial information to carry out a descriptive analysis segmenting the sample by year, cross tables and chi-square tests. Findings: Big Fours are the companies that provide assurance of non-financial information as well as audit the financial information of listed companies. Law 11/2018 has not implied important changes for the IBEX 35 companies because what was compulsorily required at first was previously voluntarily done, i.e. the majority of companies have already applied GRI (Global Reporting Initiative) standards when it was voluntary and also when compulsory and they keep including non-financial information in the management report. It has been also checked that auditing and providing assurance firms are specialized by sectors. Originality/value: Currently there is an intense discussion about the future of non-financial information regulation in Europe. The expected changes will affect the Spanish regulation as a Member State. It is a need to contextualize the starting point.

查看原文本刊更多论文

IBEX35中的非财务信息:自愿与强制阐述和保证的比较

目的:大公司习惯于自愿编制和核实非财务信息。在西班牙，在第11/2018号法律之后，这是强制性要求。这些新的强制性要求促使我们研究以前的自愿做法是如何修改的，以及审计和提供保证的公司之间是否存在联系。设计/方法:研究样本汇编了2018年在IBEX 35上市的公司，以分析2018年第11/2018号法律适用的第一年，以及2017年自愿披露该信息的前一年。我们创建了一个具有非财务信息特征的数据库，对样本进行年分割、交叉表和卡方检验的描述性分析。发现:四大会计师事务所是既提供非财务信息鉴证，又对上市公司的财务信息进行审计的公司。第11/2018号法律并未暗示IBEX 35公司的重大变化，因为最初强制要求的内容以前是自愿完成的，即大多数公司已经在自愿和强制情况下应用了GRI(全球报告倡议组织)标准，并且他们继续在管理报告中包含非财务信息。还检查了审计和提供担保公司按行业专业化。原创性/价值:目前，关于欧洲非金融信息监管的未来，人们进行了激烈的讨论。预期的变化将影响作为成员国的西班牙法规。需要将起点置于背景中。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Intangible Capital MANAGEMENT-

CiteScore

1.50

自引率

16.70%

发文量

审稿时长

33 weeks

期刊介绍： The aim of Intangible Capital is to publish theoretical and empirical articles that contribute to contrast, extend and build theories that contribute to advance our understanding of phenomena related with management, and the management of intangibles, in organizations, from the perspectives of strategic management, human resource management, psychology, education, IT, supply chain management and accounting. The scientific research in management is grounded on theories developed from perspectives taken from a diversity of social sciences. Intangible Capital is open to publish articles that, from sociology, psychology, economics and industrial organization contribute to the scientific development of management and organizational science. Intangible Capital publishes scholar articles that contribute to contrast existing theories, or to build new theoretical approaches. The contributions can adopt confirmatory (quantitative) or explanatory (mainly qualitative) methodological approaches. Theoretical essays that enhance the building or extension of theoretical approaches are also welcome. Intangible Capital selects the articles to be published with a double bind, peer review system, following the practices of good scholarly journals. Intangible Capital publishes three regular issues per year following an open access policy. On-line publication allows to reduce publishing costs, and to make more agile the process of reviewing and edition. Intangible Capital defends that open access publishing fosters the advance of scientific knowledge, making it available to everyone. Intangible Capital publishes articles in English, Spanish and Catalan.