The multiverse of non-financial reporting regulation

ABSTRACT Although non-financial reporting (NFR) has been extensively explored in the accounting literature, most previous studies have focused on relevant issues in contexts where firms report their impact on society and the natural environment voluntarily. Despite the important role previous studies on voluntary NFR play in our understanding over of its role, processes and consequences, extant literature has provided limited evidence on (i) how NFR regulation affects (if at all) corporate reporting, (ii) whether such regulated reporting affects the users of corporate reports and, (iii) whether mandatory NFR has any “real effects” on how firms affect society and natural environment. This special issue attempts to enrich our understanding of the impact of NFR regulation with reference to the studies accepted for the special issue. In addition, this paper discusses key aspects of NFR regulation, provides an overview of the papers included in the special issue and proposes further axes of research in light of the continuing reforms in the NFR regulatory space; which we foresee to lead to a “multiverse” of NFR regulatory models and approaches.