Financial reporting as a source of information for decision-making in restructuring proceedings – consistency or variability of stakeholder needs?

<ns3:p>Purpose: The purpose of the article is to analyze the variability of the needs of corporate stakeholders in restructuring proceedings regarding individual elements of the financial statement as a source of information for their decisions about the indebted entity.Methodology/approach: A literature review was conducted on the information needs of stakeholders of companies in restructuring, along with an analysis of legal regulations relating to specific rules for preparing and disclosing financial statements in restructuring proceedings. The main part of the research is an analysis of the results of surveys conducted between 2016 and 2020. The respondents were specialists in the field of restructuring, most of whom had many years of practical experience in court proceedings. To answer the research question, the research sample was divided into two periods: 2016–2017 and 2018–2020.Findings: The survey results indicate that in restructuring proceedings, stakeholders’ views on the importance of financial statement elements in making decisions about an indebted entity remain largely consistent. Dividing the sample into two periods did not reveal any significant differences in how stakeholders perceive the importance of individual financial statement elements.Research implications: The results of the survey may provide guidance for regulators to maintain the current legal provisions that ensure all elements of the financial statement are available to participants in the restructuring process, as they are used in decision-making by various stakeholder groups.Originality/value: The findings help fill the research gap regarding the information needs of stakeholders of companies in restructuring.</ns3:p>