Meeting the Corporate Reporting Needs of Government and Society
34 Pages Posted: 24 Feb 2013
Date Written: January 1, 2013
We review some of the ways in which corporate reporting might be more useful for the government’s management of the macro economy and for society’s needs for more comprehensive reporting of corporate social and environmental performance. We highlight the constitutive as well as the representational nature of corporate reporting and how accounting subtlety impacts the culture and focus of governments, societies and corporations. Prominent examples are the ways accounting encourages financialisation and fails to account for externalities and the environment. While many proposals for the reform of corporate reporting emphasis standards and rules, we suggest that a more deliberative approach has much to commend it. A move to deliberation, however, requires that accountants highlight the pervasive but often subtle impacts of accounting.
Keywords: crisis, stability, financialization, corporate reporting, sustainability accounting, integrated reporting, social audit, deliberation
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