Proceedings of The International Conference on Advanced Research in Management, Economics and Accounting
The evaluation of implementing the European Union’s regulations regarding non-financial information in Poland
The main aim of this paper is to analyse and evaluate how the regulations of Directive 2014/95/EU in terms of non-financial information disclosures have been implemented to the Polish Act of Accounting. According to EU’s regulations, each country has to enforce non-financial information disclosures and 2017 was the first year in which the largest Polish companies were required to disclose non-financial information in their financial statements. This obligation appeared to be a big challenge for those entities. What is more, the legislator gave the companies a certain level of freedom on several issues, e.g. they can choose the form of presentation or which reporting standards to follow.
The theoretical part of this article aims to emphasise the major impact which the European Union’s regulations had on the Polish accounting system. The paper also features an empirical part, based on the material from the conference held by the Polish Ministry of Finance in March 2019. It aimed to present good practices and some first experiences of Polish companies related to the presentation of non-financial information. The article will also be an attempt to discuss the matter of supervising the content of disclosed non-financial information. The research method applied in the article will be a critical analysis of the literature, legal acts, as well as an analysis of the research provided by the Polish Ministry of Finance.
Keywords: business reporting, Directive 2014/95/EU; financial statements; modern accounting; non-financial disclosures.