FINANCIAL REPORTING REGULATION FOR THE LISTED COMPANIES: ANALYSIS FOR SELECTED EASTERN EUROPEAN TRANSITIONAL COUNTRIES IN THE PROCESS OF EU ENLARGEMENT

Financial reporting of listed companies is very important element for efficient functioning of capital markets; therefore, the developed countries have increased mandatory reporting requirements during the last decade. Since the regulation of financial reporting in the countries in transition is trying to follow up with modern trends the main objective of this paper was the analysis of financial reporting regulation for listed companies in six Eastern European countries in different stage of EU accession (Slovenia, Croatia, Bosnia & Herzegovina, Serbia, Montenegro and Macedonia). Furthermore, the research includes analysis of the financial reporting practice based on empirical insight into the web sites of securities commissions and local stock exchanges. The analysis of the current financial reporting regulation has revealed that the EU member state and the two candidate countries have more harmonized financial reporting regulation with the EU requirements in comparison with the potential candidate countries. The observed differences from the regulations are transferred into the financial reporting output presented on the web sites of commissions and stock exchanges