IV.
The audit and verification of the Report includes conducting internal audits,
stakeholder interviews and / or independent external audits, correction of identified
deficiencies; at the same time, EU Member States may require additional information
to be verified by an independent expert who gives opinions on this kind of information.
V.
Publication of the Report and ensuring its availability to interested parties is
ensured by its placing on a separate page on the company's website; placing addresses
and contacts for sending comments with indication of the contact person on the
preparation of the Report; dissemination of the Report among the interested parties
(organization of round tables, press conferences, distribution of press releases to
employees and mass media and other external stakeholders, announcements for
investors, advertising, emails and other forms of communication); assessing the
number of stakeholders involved, the effectiveness of the communication channels and
the number of comments that can be included in the social responsibility management
and in the next reporting cycle.
When the Report on Management is compiling, the interaction of the divisions of
the group of companies in the process of activity becomes essential, which ensures
improvement of the reputation and image of the company / enterprise, increase of
stability by reducing risks, increasing the efficiency of individual business processes,
improving investment attractiveness by increasing trust in the company and increasing
its capitalization, the maintenance of skilled personnel. Drafting the Report will ensure
the effectiveness of strategic and tactical management of the enterprise, coordination
and communication of all its divisions [12, p. 116]
As a part of the financial statements, the Management Report must meet certain
content requirements to ensure user-friendliness. In our opinion, the main requirements
for the information of the Management Report should be:
- reasonableness and appropriateness;
- sufficiency and optimality;
- structuring and visualization;
- comparability and comparability.
Based on the fact that the Management Report is an important element of financial
reporting and compulsory compilation by a large number of enterprises, and also due
to the lack of a legally binding form for it and the lack of development of domestic
scientists, we have proposed a typical structure of the Management Report, which is
presented below.
Typical management Report structure:
- Introduction (a brief description of the senior management of the main activities
of the enterprise (including the activities of its subsidiaries), the position of the
company in the market, the vision of its current state, justification of the importance of
business for the society and economy of the country).
- 324 -