THE EVOLUTION AND THE NEW FRONTIERS OF SOCIAL RESPONSIBILITY ACCOUNTING

It is required currently from enterpeneurs to run their business according to the principles of sustainable development. As a result the rapid growth for corporate social responsibility among business owners is commonly observed. They started noticing that being socially responsible can help improve financial results and competitiveness. In order to achieve these goals company involving in corporate social responsibility should disclose accurately and credibly information on the social and environmental effects to both external and internal stakeholders. The research was aimed at indicating the limitations of traditional accounting and the benefits of integrated reporting. The research problem concerns the informative gap between data being reported in traditional financial reports and stakeholders' requirements which appears as a consequence of existing accounting procedures and traditional financial reporting frameworks. According to hypothesis adopted in this paper integrated reporting helps diminish the information gap. On the basis of the conducted analysis it has to be said that, integrated reporting as a communication tool enables the company to build social trust and serve as a differentiator in a competitive environment. That is the reason why, despite the lack of a globally accepted integrated reporting framework, companies are more prone to prepare reports voluntarily.