Institutional bases of social reporting of enterprises

Abstract

In this article the institutional framework of formation of social reporting is examined. Social reporting allows to analyse the activity of the enterprises regarding sustainable development, in particular, environmental safety, favorable working conditions, labor safety, development of local communities, work and consideration of stakeholders’ interests. Each enterprise independently makes decisions on the conduct of corporate social responsibility. Ratification of the international standards of reports on social responsibility forces the enterprises to form reports in accordance with the requirements. This, in turn, can show the level of the social policy conducted by the enterprises and public interest in such information. In the context of social reporting the agenda of the company is changing. First of all, the companies have to be responsible, then transparent, and now one more factor appeared: the companies, in addition to responsibility and transparency, have to report to their stakeholders on their activity. Compared to the situation existing 20 years ago, the agenda of large international companies has become much more complicated. Thus, the main issues that modern companies face include issues of globalization, child labor, equal opportunities regardless of gender, race and religion, diversity, fight against bribery and corruption, new technologies, even wars and weapons, fight against terrorism. All this provides sustainable development for the companies.

Key words: enterprices, social reporting, social responsibility, social politics.