NON-FINANCIAL REPORTING A STRATEGIC ELEMENT IN THE DEVELOPMENT OF ECONOMIC ENTITIES

Traditional financial reports, as transparency and communication tools of traditional accounting, do not meet the information needs of stakeholders, they only reflect social and environmental aspects to some extent. Shareholders and investors focus more on the long-term impact of the sustainable model. These models can be developed through reports that deal with environmental, social and corporate governance issues. If entities do not publish high-quality non-financial reports, they may soon face evaluation problems during evaluations, as well as problems accessing funding sources and communicating with investors and clients. Starting with the financial sector, capital markets to all economic entities, regardless of the activity sector, non-financial reporting must be subject to strictly defined rules and standards. Each entity must define and report on its strategy, key risks and progress against strategic performance indicators globally. In this context, each economic entity must establish a series of criteria for identifying and prioritizing the targeted gateways, in accordance with the business strategy and reporting method adopted. The main objective of this scientific approach is to analyze the evolution of the financial and non-financial reporting system in order to identify a reporting format, the type of data, information that meets the requirements, taking into account the specifics of the entity, the specifics of the sector in which activates, as well as the information needs of the interested parties. In the second objective, we aimed to achieve the establishment of the threshold of significance and the representation of the most important non-financial aspects by analyzing some well-established variables (the level of influence of the stakeholders regarding the non-financial aspects and the entity's impact on environment, society and economy from the perspective of each non-financial aspect).