What is Voluntary Disclosure?

Legal Definition
Voluntary disclosure is the provision of information by a company's management beyond requirements such as generally accepted accounting principles and Securities and Exchange Commission rules, where the information is believed to be relevant to the decision-making of users of the company's annual reports.

Voluntary disclosure is carried out by many companies, although the extent and type of voluntary disclosure differs by geographic region, industry, and company size. The extent of voluntary disclosure is also affected by the firm's corporate governance structure and ownership structure; in particular, research has found that top executives have a significant influence on their firms' voluntary disclosures, and that managers have unique disclosure styles related to their personal backgrounds including their career paths and military experience.

Voluntary disclosure has also been identified as an important area in financial reporting research.
-- Wikipedia