The article discusses trends and patterns in the area of standardization of the practice of corporate non-financial reporting in the EU and Russia. This article analyzes the impact of different approaches to standardization of non-financial reporting on the change of its quality. Also, the article predicts eventual impact of legislative requirements about mandatory non-financial reporting for certain types of companies on the quality of non-financial reporting. Here the reporting is studied as a product, the use of which creates competitive advantages. Furthermore, here in the article is discussed the possibility of using the EU experience in the area of standardization of the practice of non-financial reporting in Russia.