Non-financial reporting as part of corporate social responsibility of business

Kozhuhova Yulia Eduardovna, Kushbokova Rita Hasbievna, Kuleshova Larisa Vladimirovna

Information disclosure is one of the most important tools for companies to interact with stakeholders (shareholders, investors, partners, customers, the public, government agencies), contributes to building trust and long-term relationships with them, increasing the value of companies and attracting capital. In response to the growing attention to business, the development of tools for independent evaluation of companies and the quality of reporting information is being developed, as in a mirror reflecting this activity. Such widely used tools in the world include ratings and indices in the areas of sustainable development, corporate responsibility and reporting, complex or thematic, which focus on such factors of companies' sustainability as economic, environmental, social outcomes and management aspects considered in conjunction or in certain areas and results of activity. At the same time, openness and transparency of companies play a decisive role, since assessment tools, which are based on the analysis of information on the activities of companies contained in public reporting, are becoming more common. CSR reports have become a communication tool for corporate social responsibility. These are voluntary comprehensive reports that include not only economic data, but also information from the environmental and social fields. These reports talk about the company's environmental policy, sustainability, or are directly aimed at fulfilling the obligations assumed by the company within the framework of the concept of social responsibility. A CSR report can help identify future risks and opportunities and thus enhance the competitiveness of a business and support the opportunity for long-term business cooperation of the interested party. This article describes how CSR reports are used by enterprises and how socially responsible activities affect the development of a company.

Keywords:social business, corporate social responsibility, non-financial reporting