Implementation of international financial reporting standards in state-owned enterprises of Ukraine

Abstract

The purpose of the article is to examine the peculiarities of implementing International Financial Reporting Standards (hereinafter – IFRS) in the accounting process of economic entities in Ukraine’s public sector, analyze the key challenges associated with harmonizing the national accounting system with international requirements, and assess their impact on the transparency and efficiency of financial management.

The article uses system analysis methods to identify the main trends in financial reporting regulation, a comparative approach to assess the compliance of national standards with international requirements, and structural and logical analysis to identify the main problems and determine ways to overcome them.

The results of the study show that the transition to IFRS contributes to improving the quality of financial reporting, increasing the level of confidence of international investors and improving internal mechanisms for managing state-owned enterprises. The obtained results confirm the need to improve the regulatory framework, modernize financial reporting, and increase the level of professional training of accounting specialists.

The conclusions suggest expanding government programs to support the digitalization of accounting systems, developing a unified mechanism for monitoring compliance with IFRS, and strengthening the role of independent audit. The practical value of the study lies in the possibility of applying its results to improve the financial management of state-owned enterprises, which will help increase their efficiency and competitiveness.

Prospects for further research include analyzing the impact of digital technologies on the quality of financial reporting, assessing the effectiveness of public policy in the field of IFRS implementation, and studying the mechanisms for integrating international standards into the public financial management system.