Abstract:

In a competitive environment and in the context of accelerating the globalisation process, organisations are forced to develop new strategies to stay competitive on short term, but especially on long term. The organisations are aware and encouraged to integrate and involve themselves in social responsibility issues. Climate change, environmental degradation, social troubles, etc. are addressed in reporting non-financial information. In order to effectively respond these global issues and the requests of the interested parties, the reporting of non-financial information must be harmonised and interconnected with the financial reporting, Ienciu, I.A., et al., (2014). The result of these harmonisations and interconnections is materialised in what we call the integrated reporting of organisations.

In this paper one presents a study on how the OMV Petrom Group has identified the aspects of corporate social responsibility, prioritised them and integrated them into the business strategy and integrated reporting. At the same time, the study sets to identify the challenges that the OMV Petrom Group dealt with during the implementation of integrated reporting according to international integrated reporting standards. Once these challenges have been identified, we suggest some best practice recommendations that should be addressed in providing non-financial information through integrated reporting.