Methodological Grounds of Forming Integrated Reporting in Cluster within Institutional Transformations

In the context of institutional changes the formation of reporting is carried out in close connection with the global and integration processes of development of society. Institutional provision of reporting provides for justification of the theoretical, methodological and practical bases of its development and is aimed at the effective management of economic processes at the micro and macro levels. The article is devoted to the deepening of the theoretical and methodological foundations for the formation of integrated reporting in the cluster due to the use of modern approaches to creating reporting information. The problematic issues of reporting in the cluster were researched. It was found that cluster reporting is considered as a system of indicators, which arose as a result of the development of corporate reporting. At the same time, the methodology for the formation of such statements is adjusted taking into account a different type of links between cluster members and the absence of a rigid link to accounting and reporting standards. A comparative analysis of the key characteristics of financial and integrated reporting was done. It was determined that integrated reporting, unlike financial reporting, contains interrelated information about individual types of capital, its compilation is accompanied by mandatory consideration of strategic goals and all types of risks, as well as allows to predict cluster development in the short, medium and long term, and to determine its ability to create value. Formation of integrated reporting is a priority for the development of reporting, as it allows to simultaneously meet the information needs of various user groups (managers, government agencies, the public). The objectives and conceptual framework for integrated reporting in the cluster were defined, which is based on basic concepts, guidelines and components of its content.