The primary objective of contemporary corporate reporting is to cultivate trust among a diverse range of stakeholders; in this regard, financial transparency is of paramount importance. The issue of financial transparency is a subject that is being discussed in contemporary academic literature and in practice. This is because there is no consensus among academics and practitioners on the essence of transparency and the criteria for measuring it, or on approaches to measuring transparency. This article aims to identify, through an analysis of scientific literature, what methods can be used to assess the transparency of financial statements, and to draw conclusions about the completeness and comprehensiveness of the information they provide. The literature review enabled the authors of this paper to identify six possible methods for assessing financial transparency, five of which were applied by the authors to the assessment of corporate reporting of 50 public IT and IT consulting companies for the year 2023. Thus, the aggregate number of cases under consideration was 250. To identify any potential discrepancies between traditional and sustainable performance indicators, a comparison was made with ESG scores. The findings of the study demonstrate that the assessments obtained through diverse approaches do not permit the drawing of unambiguous conclusions regarding the company's financial situation, nor do they facilitate a precise evaluation of the level of information transparency. Therefore, this fact motivates to further develop a universal tool for assessing and monitoring financial transparency which could be accessible to a wide range of stakeholders and easily manageable in a digital environment.