CORPORATE SOCIAL REPORTING DEVELOPMENT IN LITHUANIA

Abstract

The paper analyses issues of corporate social reporting development in Lithuania. Social reporting issues are the logical part of social accounting approach which determines that companies should provide also non-financial information in order to satisfy the goals of stakeholders concerned. European countries, including Lithuania, are not formed a single system of corporate social reporting. Thus, not only a relatively small number of companies make these statements, but at the same time they are different in content and structure, and therefore not always comparable.

The objective of this paper is to investigate development of corporate social reporting in Lithuania. The research methods applied in this article are the analysis of legal acts, logical and comparative analysis of scientific literature, analysis of social reports.

The results of the paper showed that Lithuania takes place in social accounting and reporting: the determination of social objectives in the National Strategy for Sustainable Development, National Network of Responsible Business, belonging to socially responsible international organizations, educational seminars, studies about the social reporting in Lithuania. However, these changes are more scientific and educational nature, has little to do with the actual business activities.

Most problems of slow development are related to current inadequate legal framework for social accounting and reporting. They could be solved with the support of state institutions and professional organizations.

DOI: http://dx.doi.org/10.5755/j01.em.17.4.2982