INSTITUTIONAL AND TECHNOLOGICAL ASPECTS OF THE TRANSFORMATION OF FINANCIAL REPORTING UNDER IAS IN UKRAINE

The article examines the institutional and technological aspects of transforming financial reporting of Ukrainian enterprises in accordance with International Financial Reporting Standards (IFRS). The role of IFRS in the global system of financial transparency and accountability is defined, along with the significance of transformation as a key stage in aligning national accounting practices with international requirements. The study describes financial reporting transformation as a multidimensional process involving changes in the principles of recognition, measurement, and disclosure of financial information related to assets, liabilities, revenues, and expenses. The main methodological approaches to transformation are analyzed, including manual conversion, parallel accounting, and software-based automation, with an evaluation of their practical application and feasibility in Ukraine. Special attention is paid to the practical experience of Ukrainian enterprises in implementing IFRS and to the key obstacles encountered during transformation, such as a shortage of qualified professionals, fragmented methodological guidance, low financial motivation, and the high cost of implementation. It is emphasized that in many cases financial reporting transformation is treated as a formal requirement rather than a systemic change, which undermines the reliability of financial data and the economic decisions made on its basis. The article highlights the promising role of digital solutions – such as ERP systems, cloud-based platforms, and artificial intelligence – in improving the quality, efficiency, and sustainability of reporting transformation. Additionally, the need to establish institutional support at the national level and to reform accounting education by focusing on practical IFRS application and international competence development is substantiated. It is concluded that high-quality transformation of financial reporting should be regarded as a strategic tool that enhances business credibility, improves reputational standing, strengthens financial governance, attracts long-term investments, and facilitates broader international integration.