CORPORATE SOCIAL RESPONSIBILITY REPORTING BY ENTERPRISES AS THE KEY COMPONENT OF BUSINESS CORPORATE SOCIAL RESPONSIBILITY SYSTEM IN UKRAINE
Authors:   Scientific Institute of Management, Economics and Business University «Interregional Academy of Personnel Management», Skyba Hanna , Tsimoshynska Oksana ,   Scientific Institute of Management, Economics and Business University «Interregional Academy of Personnel Management»
Published: April 2024

The intensification of implementing the concept of Corporate Social Responsibility (CSR) in Ukrainian businesses has led to the need to study international experience in reporting on the results of this process. The examination of international experience is crucial for formulating an effective strategy for implementing CSR by Ukrainian enterprises. Among the arguments supporting the importance of reporting on corporate social responsibility (CSR), it is worth noting not only its significance as a tool for conveying information to stakeholders about the achievements or failures of CSR strategy but also its role in upholding the principles and provisions of this concept as a development strategy for enterprises. Reporting becomes a mechanism for communication between the company and its stakeholders, as well as a tool for openness and transparency to the public. Within the framework of academic research, it is important to consider the economic essence of «non-financial (social) reporting» which is defined as a documented list of indicators reflecting the environment, principles, and methods of interaction of an organization with various influential groups, as well as the results of its activities in economic, social, and environmental spheres. This research allows for identifying key aspects of reporting that affect the perception and evaluation of a company’s activities by various stakeholders. Theoretical aspects of the forms and types of non-financial (social) reporting, as well as approaches to its compilation, have also been considered. The research has identified problematic aspects of adapting foreign management practices based on the principles of corporate social responsibility and compiling non-financial reporting to the Ukrainian management and entrepreneurial practices. The study has shown that 83% of domestic companies are implementing the concept of corporate social responsibility. However, the declarative nature and low level of verification of social reports indicate insufficient understanding by management that non-financial reporting is not a promotional document but rather a means of demonstrating corporate maturity in decision-making responsibility. In Ukraine, the preparation and submission of non-financial reporting remains predominantly practiced among large national companies and representations of international corporations. However, in recent years, there has been an increase in the number of non-financial reports prepared according to the GRI standard in Ukraine. In further research, it is important to consider the significance of social accounting for business entities as a basis for the preparation and submission of non-financial reporting, as well as one of the key elements of the corporate social responsibility system in our country.