Integrated Financial Reporting: Formation, Global Aspects, Regional Features, and Impact on Corporate Governance

Abstract

The article deals with the analysis of the main trends and challenges associated with the development of integrated reporting, the assessment of its impact on the quality of corporate governance, and the efficiency of companies' operations, as well as the identification of obstacles that may arise during its implementation. The methodological framework of this study combines systemic methodology with bibliographic and monographic research methods. The authors’ contribution to solving the research problem lies in the systematization of global aspects and regional features of integrated reporting formation. The study reveals that the implementation of integrated reporting varies significantly across national contexts. The analysis highlights specific legislative differences, noting that France mandates the inclusion of verified non-financial information through the Grenelle II Act, whereas the United Kingdom requires strategic reports containing data on risks and social-environmental aspects through amendments to the Companies Act. Meanwhile, countries like Malaysia and Singapore have established specialized coordination committees. The scientific novelty of the study consists in the justification of the positive impact of integrated reporting on the quality of corporate governance and strategic planning. The results of the literature analysis substantiate the hypothesis that integrated reporting enhances the efficiency of decision-making and contributes to the growth of company value and investor capital. The practical significance of the results lies in the elaboration of directions for adapting international experience to Ukrainian realities. The implementation of integrated reporting, particularly, takes on special meaning in the context of massive destruction and economic losses caused by russian aggression. In this regard, integrated reporting acts not only as a tool for attracting investment but also as a mechanism for ensuring the transparent use of recovery funds. The findings allow for the development of practical recommendations for improving the use of this practice in Ukraine, taking into account specific war risks and environmental consequences.