ADVANCE IN THE SOCIAL AND ENVIRONMENTAL DISCLOSURES BY COMPANIES AND THE LEGITIMACY THEORY

Abstract

New accounting and audit challenges are faced by the companies. Nowadays, they can´t produce only financial information, it is also required from them a social responsible posture, including the disclosure of social and environmental information by the companies. The purpose of this study is to contribute with a theoretical reflection about social and environmental disclosures. It analyses the scientific advances in the area, named in the international literature as Social Environmental Accounting Research (SEAR). It presents a environmental disclosure and corporate social responsibility framework. Points out topics on the development of research in social and environmental accounting, focusing on the main issues under investigation and the role of professional entities as agents in this area. The managers motivations to prepare the environmental report are identified. The main foundations of the theory of legitimacy are presented. In doing so, it is intended to contribute to a reflection on this line of research which is in its first steps when compared with the long history of financial reporting.