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Transparency in the System of Corporate Governance: the Accounting Interpretation of Development
Tsaruk V. Y.

Tsaruk, Vasyl Yu. (2020) “Transparency in the System of Corporate Governance: the Accounting Interpretation of Development.” Business Inform 2:437–444.
https://doi.org/10.32983/2222-4459-2020-2-437-444

Section: Management and Marketing

Article is written in Ukrainian
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UDC 657.1

Abstract:
The article is aimed at identifying, critically analyzing and studying the features of the spectrum of transparency parameters in the corporate governance system and differentiation of the directions of its development to improve the accounting system of enterprise. The results of the carried out study substantiate the relevance and prove the practical importance of the procedure to ensure transparency of the corporate governance system. Retrospective historical aspects of the need for corporate transparency have been analyzed and differentiated. Transparency of corporate governance is defined as an external factor in the development of the accounting system. Approaches to understanding the essence of corporate transparency in the systems of principles and in the codes of corporate governance are analyzed. The concept of transparency is considered in the context of the concept of good corporate governance. A lack of a general and common understanding of the concept of transparency in the various standards and documents regulating the process of corporate governance is determined. The feasibility of using the internationally recognized accounting standards or best practices that meet regulatory expectations (IAS / IFRS and GAAP US) to ensure transparency of corporate structures is substantiated. The search for the relationship between understanding the concept of transparency of corporate governance and various accounting constructs (accounting principles, qualitative characteristics of financial information, goals and objectives of accounting system, etc.) is actualized, improving which will ensure achieving a higher transparency level in corporate structures. It is determined that a converged conceptual framework of financial reporting should be used to substantiate the concept of corporate transparency.

Keywords: corporate governance, transparency, accounting system, quality characteristics of useful financial information.

Tabl.: 1. Bibl.: 17.

Tsaruk Vasyl Yu. – Candidate of Sciences (Economics), Associate Professor, Department of Accounting and Economic and Legal Support of Agro-Industrial Business, Ternopil National Economic University (11 Lvіvska Str., Ternopil, 46020, Ukraine)
Email: [email protected]

List of references in article

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