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20 October 2022

Interuniversity Round table on Topic ‘Verification of Economic Entity Reporting Information’

The interuniversity round table “Verification of Economic Entity Reporting Information” completes a series of round tables in which the Department of Audit and Corporate Reporting organizes a discussion in a professional community of the most significant research results conducted by both the FinU scientific school “Accounting, Analytical and Control Processes of the Information Society Economic Entities” and related leading scientific schools Russia (Rostov State University of Economics, St. Petersburg University of Economics and Finance, Kazan Federal University, Novosibirsk University of Economics and Management, Ural State University of Economics, MEPhI and many others).

The first round table “Corporate Reporting: Formation and Disclosure” was held in February 2022, the second round table “Reflection of the Business Capital Movement in an Economic Entity Reporting” was carried out in May 2022.

The key point of the third (final) round table of 2022 “Verification of Economic Entity Reporting Information” is due to the contradiction between:

·         the increasing range and quantity of information disclosed in public (corporate, non-financial) reporting of economic entities in the context of ESG factors (on the one hand) and

·         the reliability, quality and interconnectedness of public companies’ reporting information (on the other hand).

In the modern world, the role of reliable corporate reporting as the main means of business communications between the state, business and society is steadily increasing. In this regard, the procedures for confirming the reliability of the reporting information of economic entities, currently carried out not only by audit firms, but also by alternative verifiers, require deep methodological study and further development.

As part of the formulated issues during the round table

1. Basic reports will be presented:

·         “Verification of Corporate Reporting as an Evolutionary Stage in the Business Audit Formation in the Context of ESG Transformation” based on the results of the scientific research “Information Transparency as a Necessary Condition for the Development of the Institute of Public Joint Stock Companies in the Russian Federation” (prof. R.P. Bulyga , prof. I.V. Safonova, FinU) – in which, based on the study of the regulatory framework, international and domestic practice of confirming the reliability of non-financial reporting of PJSC, the problem of economic entities’ verifying corporate reporting is formulated and specific ways of solving it are proposed.

·         “Modern Practice of Non-Financial Reporting of Oil and Gas Complex Companies’ Verification” based on the results of the scientific research “Development of Methodology for the Formation of Integrated Reporting and its Audit in the Oil and Gas Complex” (Prof. I.N. Bogataya, Prof. E.M. Evstafyeva, Rostov State University of Economics) – in which a specific industry of oil and natural gas production) will be considered as an example of the solution to the problem of corporate (non-financial) reporting verification.

2. Representatives of the Russian leading scientific schools expressed their own expert opinions on the issue under consideration.

3. A position (resolution) has been developed on the prospects for solving the problem.

The target audience of the round table: representatives of the expert educational and business community, state executive authorities, students and postgraduates of economic specialties.

Register here