International financial reporting standards for the public sector of Ukraine: status and prospects

Abstract

The use of International Financial Reporting Standards can contribute to solving the problem of providing reliable information for making management decisions regarding investment in the economy of post-war Ukraine. The purpose of the article is to study the current state of implementation of international accounting standards in Ukraine, in particular in the public sector, from the standpoint of identifying problems and developing ways to solve them. The article analyzes the results of the use of IFRS by domestic enterprises, highlights the issue of the application of IFRS for SMEs, the implementation of international standards for disclosure of information on sustainable development and integrated reporting. The unsatisfactory quality of national standards in the public sector in comparison with international ones was noted, urgent problems of accounting regulation in the domestic public sector were identified. Based on the results of the study, conclusions were drawn, recommendations were made for solving the identified problems, and directions for further research were outlined.