© Francisco A. Sánchez Cousido

CUNEF (Madrid, España)

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Summary

In this paper we go through the origin of Annual Reports of Transparency and national and EU regulations that provide for those reports and the values they try to guarantee with the dissemination of these reports, above all, trust, quality and independence.

The analysis of the transparency reports of two accounting firms allow us to scrutinise the degree of legal compliance. The data in these reports comes to be extremely valuable for citizens.

The results of our research prove that the degree of compliance of EU and national laws is total. Meeting regulations in this area raises consumers´ trust in accounting firms´ reports, in their high quality and in the independence of these companies.

These reports show some of the basic values of auditing, their relevance for career development, as well as the procedure for preserving them. In this paper we expose the procedures that guarantee independence and the repercussions of the latter.

Finally, due to the mandatory trait of the transparency reports, going deep into their way of working and the documents they are based upon may be a competitive advantage in labour life.