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- Title
MODERNIZATION OF THE NATIONAL ACCOUNTING AND AUDITING SYSTEM USING DIGITAL TRANSFORMATION TOOLS.
- Authors
Shapovalova, Alla; Kuzmenko, Olena; Polishchuk, Oleh; Larikova, Tetyana; Myronchuk, Zoriana
- Abstract
This study aims to develop a concept for modernizing the national accounting policy, considering global trends and technological advancements in the digital economy within the Accounting 4.0 paradigm. The study employed various methods: analytical method (data analysis and collection), documentary analysis (study of regulatory requirements), expert method (study of expert conclusions), scientometric method (assessment of scientific support), comparative analysis (correlation of expert and scientific findings), and synthesis method (formation of modernization concept). The optimal digital transformation tools for the national accounting policy, determined through comparative analysis of expert and scientometric evaluations, include Cloud Computing, Blockchain Technology, Big Data, Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT). These technologies enable flexible, secure, and efficient processing of large data volumes, automation of processes, enhanced accuracy and transparency in accounting reporting, and improved decision-making. The study highlights the lack of research on instrumental support for the national accounting and audit system despite the ongoing implementation of the adapted Ukrainian International Financial Reporting Standards eXtensible Business Reporting Language (UA IFRS XBRL). Implementing the modernization concept aligned with the Accounting 4.0 paradigm has the potential to enhance efficiency and quality in accounting and auditing, foster digital economy development, and increase international competitiveness. This can be achieved by introducing modern digital technologies that automate processes, enhance data analytics, and ensure reliability and transparency in accounting and auditing. Such changes will boost productivity, mitigate risks, and enhance confidence in financial reporting.
- Subjects
NATIONAL account systems; DIGITAL transformation; AUDITING; INTERNATIONAL Financial Reporting Standards; DIGITAL technology; ACCOUNTING policies
- Publication
Financial & Credit Activity: Problems of Theory & Practice, 2023, Vol 4, Issue 51, p33
- ISSN
2306-4994
- Publication type
Article
- DOI
10.55643/fcaptp.4.51.2023.4102