Authors:

M.V. Rodchenkov

Lomonosov Moscow State University, Moscow, Russia ; Higher School of Management (EQC), Moscow, Russia

Abstract:

The shift towards a multipolar global economy has exposed contradictions in applying standardized external business presentation tools, particularly reporting standards, in developing economies. New sustainability standards with concrete metrics promoted by the IFRS Foundation could disadvantage some regions. The paper aims to identify optimal reporting strategies for companies, considering the relationship between external and internal factors when assessing corporate changes in sustainable development due to new international standards. The study is anchored on agent theory, stakeholder theory, and efficient market hypothesis. The primary research methods are multiple correspondence analysis and compliance analysis to determine parameter weighting and individual institutional isomorphisms affecting accounting systems based on regional affiliation. The evidence base covers corporate reporting data from 55 oil and gas companies from OECD, BRICS, and SCO member countries. The analysis of the constructed models demonstrates that geopolitical ties impact accounting approaches through the synchronization of standards of interstate associations’ participants and the requirements of accessible markets. The BRICS+ countries’ interest in US IFRS/GAAP is found to be decreasing. This requires rethinking and supplementing IFRS with additional sub-standards, expanding their own practices. It is necessary to spread the influence of regional auditors within BRICS+ and critically assess the extent to which reporting concepts applied under IFRS align with the national interests of the member states. The proposed approach enables the development of national and corporate strategies for reporting standards that ensure objective and competitive representation of national business in international relations.

Keywords: sustainability; BRICS; IFRS; accounting strategy; audit; board of directors; ESG transformation; sustainability standards; oil and gas sector.

For citation: Rodchenkov M.V. (2026). Reporting standards in a multipolar world: Challenges and strategies. Upravlenets / The Manager, vol. 17, no. 3, pp. 2–17. DOI: 10.29141/2218-5003-2026-17-3-1. EDN: AVIFIW.

Article info: received February 24, 2026; received in revised form March 26, 2026; accepted April 16, 2026