THE IMPACT OF IFRS ON ETHICAL REQUIREMENTS FOR THE PROFESSION OF ACCOUNTANTS IN UKRAINE
Abstract
The article examines a fundamental change in the paradigm of the accountant's activity in the conditions of the implementation of International Financial Reporting Standards (IFRS). It has been proven that the transition from «accounting according to the rules» to «accounting according to the principles» requires a high level of personal responsibility and the formation of an objective professional judgment from specialists. The key areas of ethical risks arising from the application of IFRS flexible instruments such as fair value measurement, discounting of liabilities, and determination of reserves have been identified. It was found that in the absence of a proper ethical basis, these tools can be used to manipulate financial reporting indicators. A comparative analysis of the traditional domestic accounting practice and the IFRS system was carried out through the prism of ethical guidelines. It was found that the main threats to the transparency of reporting in Ukraine are administrative pressure from management, subjectivity in the assessment of future economic benefits, and a conflict of loyalty between the business owner and the public interest. The main determinants of violations of professional ethics in Ukraine were singled out, including: administrative pressure from management, conflict of loyalty between the owner and the public interest, as well as institutional insecurity of the accountant. It was proposed to introduce a system of ethical compliance at enterprises, which involves mandatory documentation of professional judgments and the creation of internal channels for reporting pressure. The need to transform professional education with an emphasis on the development of critical thinking and ethical training was substantiated. It was justified that overcoming the crisis of professional ethics is possible only through a combination of preventive and institutional measures. The implementation of an ethical compliance system at enterprises, which provides for written documentation of all significant professional judgments and protection of specialists from external pressure, has been identified as a priority. The practical significance of the research results lies in the possibility of their use to improve the quality and transparency of financial reporting of domestic enterprises, which is critically important for attracting international investments and rebuilding the economy of Ukraine.
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