This study investigates the empirical relationship between financial reporting quality and stakeholder trust, emphasizing the role of transparency, audit independence, and Environmental, Social, and Governance (ESG) disclosures. A structured survey was administered to 920 participants, comprising investors, employees, customers, and financial analysts. The data, analyzed through descriptive statistics, Pearson correlations, and multiple regression, revealed that financial transparency had the strongest influence on stakeholder trust, followed by audit independence and ESG disclosures. These results underscore the importance of adopting transparent and ethically sound reporting practices to build long-term stakeholder confidence. The paper offers theoretical grounding in stakeholder, agency, and legitimacy theories and provides actionable recommendations for enhancing reporting quality.