Examining the correlation between cloud technology, the improvement of IFRS development, and the effi<b>ciency of accounting functions</b>

Cloud technology has a significant impact on the accounting function, financial reporting, and the application of International Financial Reporting Standards (IFRS). This research aims to examine the correlation between the implementation of cloud technology, enhanced IFRS adoption, and the efficiency of the accounting function. Using a descriptive method and correlation coefficient, the study analyzes the relationships and degree of connection between these phenomena. The research involved 32 employees from financial operations in companies and accounting agencies in southeastern Serbia, primarily in the regions of Leskovac and Niš. The paper defines two hypotheses, presents the research findings, and draws conclusions based on them. The results indicate a modest relationship between the implementation of cloud technology and the increased efficiency of the accounting function, as evidenced by faster execution of accounting tasks, reduced overall costs, and the easier adoption of new systems. Additionally, the implementation of cloud technology has a slight positive impact on the improvement of IFRS application, through the use of specialized knowledge, the provision of reliable information, and the reduction of inconsistencies in IFRS application.