A proposed framework for the disclosure of integrated reports by oil companies in Libya

Abstract

This study explored the potential for oil sector companies to implement integrated reporting as part of an advanced corporate reporting system in accordance with the guidelines issued by the International Integrated Reporting Council. The study used the current research methodology, and the case study was Sirte Oil and Gas Production and Processing Company. The study also relied on content analysis to determine the availability of integrated reporting requirements. The research tool was designed based on the proposed framework of the Global Reporting Initiative (GRI) Guidelines (2013). Analysis of the tool revealed that data on most of the proposed framework elements is available to the company, enabling it to disclose in accordance with the integrated reporting framework. The study recommended that standard setters and regulatory bodies should oblige oil companies to prepare integrated reports, which could enable them to overcome shortcomings in current reporting practices