In the 21st century, the disclosure of non-financial information in non-financial reports (N-FRs), in particular in Corporate Social Responsibility reports (CSRRs), integrated reports (IRs), and activity reports (ARs), has a global dimension, and the quality and scope of such disclosures affects both a wide range of stakeholders and the global economy. In the last decade, changing trends, considerations, as well as economic, legal and social factors have significantly influenced the content of corporate disclosures. In the context of N-FRs, special attention should be paid to the energy sector, which is in many ways essential for both the domestic and global economy. Therefore, its functioning also attracts the attention of researchers. The objective of this paper is to show the practical aspects of N-FRs and to assess the quality of reports submitted by companies in the Polish energy sector. The authors assessed the quality of non-financial information contained in the reports of energy sector companies in terms of four key management areas: Environmental Management System (EMS), Quality Management System (QMS), Enterprise Risk Management System (ERMS), and Corporate Governance Principles (CGPs). On the basis of their analysis of all CSRRs and IRs submitted by Polish energy sector companies in Poland in 2010–2020, the authors propose a model for the disclosure of information on these systems. Standardized reporting on these key management areas in the energy sector will improve the quality and usefulness of information from the perspective of all stakeholders. A model like this may be useful in many countries that manage their energy sectors in a similar way, such as Central and Eastern Europe (CEE) and other developing countries.

In recent years, many companies have been issuing non-financial information which is used by a wide range of stakeholders in their decision-making processes. Considering the fact that such reports play an important role in financial markets, the information they provide should be submitted to verification by an external, independent body. Our study, carried out in 2020, showed that only 2.3% of audit firms in Poland offer auditing non-financial report services. This was the starting point for our further investigations, the results of which will be presented in this article. The aim of the article is to identify the factors that limit or stimulate the performance of auditing in Poland with respect to non-financial data, and to determine the scope of operations carried out by audit firms which provide this service. The article comprises literature perusal and results of empirical studies among audit firms in Poland. Several important findings have emerged, including the fact that there are few companies in the Polish auditing market rendering the service of auditing non-financial reports, which are leaders in this field. The factor that most significantly limits the performance of non-financial report auditing is the low demand for such a service, which arises from the fact that verification and assurance of non-financial data are not obligatory for all reporting undertakings. Given that the number of CRS reports is increasing every year, it seems necessary to make full audits in order to confirm the reliability of non-financial information provided by reporting companies. Otherwise, stakeholders interested in these reports might be exposed to a risk of making inadequate decisions.

Wydawnictwo Naukowe Uniwersytetu Szczecińskiego

Publication made available by Lower Silesian Digital Library