Intellectual capital disclosure and non-financial reporting – current issues related to policymaking

Kovács, Zsuzsanna Ilona and Lippai-Makra, Edit (2023) Intellectual capital disclosure and non-financial reporting – current issues related to policymaking. PROSPERITAS, 10 (3). No.-4. ISSN 2064-759X

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Abstract

Challenges related to intellectual capital and non-financial reporting have occupied the accounting profession for a long time. Intangible resources, which are of great importance in knowledge economy, can only meet the criteria for validation in traditional financial reports to a limited extent. As a result, entities often choose the voluntary disclosure approach to communicate about these topics with stakeholders. Nowadays, sustainability-related information in non-financial reports is a crucial part of the dialogue between companies and stakeholders. In the future, when disclosure standards related to sustainability and intellectual capital are in force, the attention and focus may shift to the quality of information that is provided. Although entities will probably comply with standards, the depth of their communication will make a difference to stakeholders. The purpose of this viewpoint paper is to provide an overview of the difficulties associated with intangible capital reporting and non-financial reporting, and to support the preparation for challenges related to standard-setting by way of highlighting practical and academic implications.

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