IMPACT OF EUROPEAN UNION’S REQUIREMENTS REGARDING THE PUBLICATION OF NONFINANCIAL INFORMATION ON THE ROMANIAN ACCOUNTING REGULATIONS
IMPACT OF EUROPEAN UNION’S REQUIREMENTS REGARDING THE PUBLICATION OF NONFINANCIAL INFORMATION ON THE ROMANIAN ACCOUNTING REGULATIONS

Summary/Abstract: The economic environment is the target of permanent changes and pressures exerted by economic actors on the competitive market. The implications of non-financial reports have increasingly gained more ground and complement the traditional financial reports. It is required that the entity would adopt the financial reports along with the non-financial ones. This study is based on knowing the economic, social, political and environmental factors in the concept of sustainable development. The dynamics of the economic environment classifies these elements in the overall responsible reporting currently found in the requirements of Directive 2014/95/EU. The purpose of the paper is to identify how the emergence of the Directives has influenced the Romanian accounting legislation. The paper compares financial issues to the non-financial ones through an integrated reporting. Starting from the study of specialized literature and Romanian legislation, new elements are identified for preparing the annual statements and reports of the economic entities.

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