Discuss the Value of Unregulated Corporate Financial Accounting Disclosure to Society from a Classical Political Economy Perspective

Firms are required by law to provide disclosure of their activities mainly via annual reports governed by various accounting standards. These reports should aspire to maintain objectivity, neutrality and representational faithfulness. In addition to these reports, some companies have begun to produce unregulated corporate financial accounting disclosure in areas such as; social, ethical and environmental reporting. This type of disclosure is at an early stage but is increasing in use and popularity. The social value of such reports is a topic for debate.
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