PERCEPTIONS AND CHALLENGES OF ESG REPORTING FOR THE ACCOUNTING PROFESSION IN BOSNIA AND HERZEGOVINA

ESG reporting is becoming increasingly significant in the global business environment; however, there remains a paucity of research regarding the readiness of accountants to implement these standards in Bosnia and Herzegovina. This study aims to assess the perceptions and preparedness of accountants in Bosnia and Herzegovina for adopting ESG principles, whilst also identifying the primary barriers and drivers to adopting such principles. Employing a quantitative methodology, we surveyed a sample of accountants to gather data on their knowledge of ESG, their perception of its importance, their readiness for change, and their expectations concerning implementation. The findings indicate a certain level of awareness of ESG among accountants, yet substantial obstacles to implementation persist, such as the lack of clear guidelines, the unavailability of data, and insufficient resources. The research underscores the necessity of education and support from professional associations in embracing ESG reporting. The results obtained provide valuable insights for decision-makers, regulatory bodies, and professional associations in Bosnia and Herzegovina, and may serve as a foundation for the development of strategies to promote ESG reporting within the country.