Structural Analysis of the Drivers Affecting the Future of Corporate Reporting in Iran

Document Type : Research Paper


1 Prof., Department of Accounting, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran.

2 Ph.D. Candidate, Department of Accounting, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran.


Objective: Corporate reporting in its general sense refers to all communication channels between companies and stakeholders and is the main mechanism for transmitting information to users. In recent years, there have been growing concerns about the inadequacy of traditional corporate reporting. This highlights the need to think about the factors that influence the future of corporate reporting. As a result, the purpose of this study is to identify and structural analyze of drivers that affect the future of corporate reporting in Iran.
Methods: In the first stage, in order to identify the list of drivers, semi-structured interviews with experts in the field of corporate reporting (including managers, auditors, regulatory and standard setting body representatives, investors and analysts, and university professors) were used, and then fuzzy Delphi analysis was used to validate and consensus on important drivers. In the second stage, using the cross-impact analysis method using MICMAC software, the structural analysis of the drivers identified in the first stage was performed. At the interview stage and like most qualitative studies, the sample was selected purposefully using a snowball or chain sampling method. This process has continued until the achievement of theoretical saturation about the drivers that affect the future of corporate reporting.In addition, theoretical sampling method was used to distribute the questionnaire and use "fuzzy Delphi" and "interaction matrix" methods. Purposive sampling was used to select a sample to collect data in different stages of the research. In the first phase, 17 interviews were conducted with experts. The first round Delphi questionnaire was distributed among 35 experts and in the second round among 27 respondents of the first stage. Structural analysis questionnaire was redistributed among 35 people in the first stage of Delphi, from which 20 answers were received.
Results: Based on the results of the first phase of the study, 52 drivers were identified in exploratory interviews. After two rounds of fuzzy Delphi implementation, 37 drivers were accepted as important drivers and consensus of experts. In the second stage, after structural analysis of the drivers, the position of each driver was determined as driving variables, linkage variables, dependence variables and autonomous variables.
Conclusion: The results show that the three drivers of "entering the global economic arena, lifting sanctions and expanding ties with foreign investors", "privatization of property" and "development of social networks" have the greatest impact on shaping the future of corporate reporting. The results of this study can be used as a basis for identifying the major trends and forces affecting the future of corporate reporting in Iran and optimal policy in this area. The results of this study are expected to be an effective step in providing a structured and systematic interpretation of the main variables affecting the future of corporate reporting and the relationships between them. In addition to the final drivers enumerated in this study, can be used to analyze and design possible scenarios for corporate reporting.


ACCA & IMA. (2012). 100 drivers of change for the global accountancy profession. Available in: doc.pdf
ACCA. (2012). Re-assessing the Value of Corporate Reporting. Available in:
ACCA. (2013). Understanding investors: the road to real-time reporting. London: The Association of Chartered Certified Accountants.
Adams, S., Fries, J. and Simnett, R. (2011). The Journey Toward Integrated Reporting. Accountants Digest, (558), 1–41.
Amihud, Y., and Mendelson, H. (1986). Asset Pricing and the Bid- Ask Spread. Journal of Financial Economics, (17), 223-249.
Arad, H., Rahnamay Roodposhty, F., Banimahd, B., and Nikomaram, H. (2019). Modernism, Post modernism and Financial Accounting Theory. Journal of Accounting Knowledge and Management Auditing, 8(32), 1-16. (in Persian)
Backhaus, K., Kirsch, H.J. and Rossinelli, Ch. (2014). Future Perspectives on Auditing Profession. World Congress of Accountants, Rome, 2014.
Barry, C. B., and Brown, S. J. (1984). Differential Information and the Small Firm Effect. Journal of Financial Economics, 13(2), 283–295.
Barry, C.B., & Brown, S.J. (1985). Differential Information and Security Market Equilibrium. Journal of Financial and Quantitative Analysis, 20(4), 407–422.
Barry, C. B., & Brown, S. J. (1986). Limited Information as a Source of Risk. Journal of Portfolio Management, 12(2), 283–295.
Battacharya, U., Daouk, H., and Welker, M. (2003). The world price of earning opacity. The Accounting review, 78, 641- 678.
CIMA & PWC. (2016). Tomorrow`s corporate reporting: A critical system at risk. available at:'s Corporate -Reporting.pdf
Cohen, J., Holder-Webb, L. L., Nath, L. and Wood, D. (2012). Corporate Reporting on Nonfinancial Leading Indicators of Economic Performance and Sustainability. Accounting Horizons, 26, 65–90.
Creswell, J.W. (2008). Research Design: Quanitative, Qualitative, and Mixed Methods. London: Sage Publication.
Crowther, D. (2012). A social critique of corporate reporting: semiotics and web based integrated reporting. (2nd ed), London, Gower Publishing Limited.
Crowther, D., & Carter, C. (1998). Copernican Metonymy and Management Accounting. Aston Working Paper Series RP9901.
Easley, D., and O’Hara, M. (2004). Information and the Cost of Capital. Journal of Finance, 59, 1553-1589.
FEE. (2015). The Future of Corporate Reporting – creating the dynamics for change. Available at:
Ghasemi, A., Ghobadian, M. (2014). Drawing and rating scenarios of the future of Iran's power industry utilizes the fuzzy cognitive map and Scenario analysis. Journal of Technology Development Management, 3(1), 101-133. (in Persian)
Gilmore, C.G. & Willmott, H. (1992). Company law and financial reporting: a sociological history of the UK experience. in M Bromwich & A Hopwood (eds), Accounting and the Law; Hemel Hempstead, Prentice Hall, pp. 159–191.
Hashemian Esfahani, M., (20101), Science and Technology Foresight, Foresight and Evaluation of Regional Competitors and Global Leaders in Science and Technology. Tehran: University Publication Center.  (in Persian)
Hosseini, S.A., Shafizadeh, B. (2019). Developing a Model for Protecting Investors' Rights with Emphasis on Accounting Constructs. The Iranian Accounting and Auditing Review26(2), 193-216. (in Persian)
ICAEW. (2017). What's next for corporate reporting. London: Institute of Chartered Accountants in England and Wales.
International Integrated Reporting Council (IIRC). (2013). The International Integrated Reporting Framework. December, International Integrated Reporting Council, available at:
KPMG (2013). The future of corporate reporting: towards a common vision. Available at:
Laughlin, R.C., and Puxty, A.G. (1983). Accounting regulation: an alternative perspective. Journal of Business Finance and Accounting, 10(3), 451-479.
Moradi, M., Jafari Daredor, M., Hosseinzadeh, S. (2019). “Challenges and Opportunities for Measuring Fair Value, in International Financial Reporting Standards Adoption in Iran”, The Iranian Accounting and Auditing Review, 26(3), 456-481. (in Persian)
Mowlaei, M.M., Talebian, H. (2016). Futures Studies of Iran's Issues by Structural Analysis Method. Majlis and Rahbord, 23(86), 5-32. (in Persian)
Murphy, G. J. (1979). The evolution of corporate reporting practices in Canada. in E N Goffman (ed.), Academy of Accounting Historians Working Paper Series Vol 1, Cleveland OH, pp. 329–368.
Sombart, W. (1915). The Quintessence of Modern Capitalism, New York, E. P. Dutton & Co.