In the last decades, the issue of the behavior geared towards society and the environment of small and medium-sized enterprises (SMEs) has created a new niche for economic researches. Most studies point out that entities operating in the forestry sector, despite having difficulties in applying valid corporate social responsibility (CSR) instruments, are concerned about the role they play in society. Therefore, they tend to develop their business by giving importance to the principles of sustainable development. The aim of the paper was to propose an econometric model to report the sustainability of non-financial performance for the companies operating in the forestry field. The main objectives of the study focused on defining and analyzing the studied problem through the specialized literature, defining and conceptualizing the statistical model in order to identify the risk factors and vulnerability, influencing the forestry sector in Romania. In this context, based on a sample of 248 Romanian active companies in the forestry sector in four distinct sectors, we calculated a number of indicators specific to the forestry sector in order to identify the risks and vulnerabilities and analyze the entities associated with this sector. Our research led us to the conclusion that, as far as the forestry sector is concerned, the companies that operate in Statistical classification of economic activities in the European Community (NACE) 240 and NACE 210 have registered superior results compared to the average in regards to the vulnerability of the sector, while those that operate in NACE 220 and NACE 230 focus mostly on those vulnerabilities regarding the risk zone of their sustainable development. The study could be useful both to stakeholders by giving them the possibility to identify those entities, classified according to the NACE code, taking into account the sector vulnerabilities and the risks associated with the profile market, as well as to the state that could influence through economic policies the sectors in which vulnerabilities are manifested.

In the context of the current economy, the concept of corporate social responsibility has gained momentum, and its significance derives from the attitude of companies that have understood the importance of the impact of their activity on the environment in which they conduct their operations. The present study emphasizes the fact that CSR has an equal importance for those companies of varying sizes that operate in developing countries, such as Romania. There are still a lot of challenges regarding their implementation. The study focuses on establishing the level of CSR report by the Romanian companies within the European Union framework by taking into account the extent to which they are familiar with the CSR reporting guidelines in order to identify the degree of applying the Global Reporting Guidelines (GRI) when designing the sustainability reports. The data regarding the acceptance of the voluntary report and its correlation to the sustainable development as a strategic focus of the management of entities, the usefulness, the necessity and the obstacles of voluntary reporting were gathered based on a questionnaire. Between 2015–2017, 61 Romanian companies of various sizes had to answer specific questions. The research is based on the descriptive statistics as well as the correlation analysis method. The findings of the research proved that the acceptance of the management in terms of the sustainable development is in a close relationship with implementing voluntary reporting and the willingness to develop a favorable image of the company within a competitive market. The study also identified the differences that exist between a company’s success on the market that is linked to their development and the economic factors that characterize each and every field of activity. The present study focuses on defining the term ‘social responsibility’ from the point of view of its concepts. It also aims at presenting the social responsibility reporting methods used by the companies from the European Union countries. These can be a starting point for those companies that have not had the chance of applying them yet.

The aim of the paper is to provide an overview of the sensitivity in terms of the preference for using the integrated reporting quality (IRQ) based on the reporting companies’ field of activity. The study focusses on designing a sensitivity analysis relying on the most relevant financial and nonfinancial indicators as required by the stakeholders. They were adjusted by the key factors for the IRQ such as the social, natural, human and intellectual capital. The study has been designed based on the upgrade and in compliance with the connectivity principle as required by the IIRC. The data was collected from the IR examples Database between 2015–2017. The results suggest that based on sensitivity function value, those sectors of activity such as transportation and infrastructure, services and trade have a higher sensitivity preference for the IR due to the quantification of the stakeholders’ interest in terms of performance positive trend indexes. Making use of regressive techniques, the authors undertook an econometrical model for the evaluation of the IRQ that may become very useful for those companies that intend to set in place a sustainable business as it provides them the opportunity of measuring the IRQ. Keyword : integrated reporting quality, sustainable development, financial information, environmental, social and corporate governance, stakeholders’ demands, GRI standards

The aim of this paper is focused on analyzing the financial performance indicators of enterprises operating in the fields of forestry and forestry exploitation in northeastern Romania, and their effects on sustainable development in view of the priorities established in the EU, with the adoption by the Member States of the Agenda 2030. In this respect, the most important 200 enterprises in northeastern Romania were selected, and the main performance indicators registered during 2009-2017 were analyzed, and a statistical model in which the balance indicators are correlated with the financial ratios being developed in the sense of assessing the financial or commercial sustainability of enterprises with which to assess the qualitative parameters of sustainable development. Results show that the entities that operate in the field of forestry exploitation, which have an over-average turnover, are more concerned with the acceleration of the rotational speed of the circulating assets with direct favorable effects on performance indicators (benefit and rate of return), but with negative effects on the decrease of the forest fund through its administration policies, which may conflict with article No. 14 of the 2030 Agenda. This paper has an innovative character, assessing the pillar of business activities within sustainable development in objective terms of sustainability.

Given the present-day economic situation, which is characterized by economic destabilization as a result of the pandemic crisis, auditors are facing the issue of establishing materiality, which is partly based on the fact that a certain level of financial misstatement influences the decisions of the involved parties. The aim of the present study is to suggest an econometric model for readjusting significance threshold levels through quick audit tests used on sustainable companies. The main objectives of the study are to emphasize the causal relationship between the manifestation of constant errors in financial reports and the inconsistency of audit opinions, as well as to put into practice the causal relationship that exists between the improvement of the audit function and sustainability itself, given companies’ crisis situation. In this particular context—based on the entire sample of companies listed in the Bucharest Stock Exchange (BVB), Bucharest Exchange Trading Plus category (BET Plus)—we estimated a number of financial indicators between 2009 and 2018 so that we could determine the materiality of accounting errors identified by auditors in order to express an opinion regarding the reliability and accuracy of financial reporting. The study’s key findings show that, given the economic crisis, the significance threshold level is a volatile test and it needs to be reconsidered taking into account the decline in the quality of reporting and, indirectly, the disclosure of financial information. From a holistic point of view, we believe that our study will have a significant impact on both practitioners and regulatory entities by shifting the qualitative approaches of analysis itself towards key prudential regulations stipulated by International Standard on Auditing (ISA) 320, ISA 450 and ISA 700. The study also highlights the process of refining information sources that can impact the significance, understanding and materiality of business decisions.