IMPROVING THE QUALITY OF FINANCIAL REPORTING: ANALYSIS OF WORLD TRENDS, THE ROLE OF THE IFRS FUND
The article discusses the world experience in the application of international financial reporting standards, the work of the IFRS Foundation to disseminate the philosophy of improving the quality of reporting of economic entities for external and internal users through the application of IFRS standards. Analyses of efficiency of use of IFRS by public companies in international jurisdictions indicate that IFRS provides transparency, increased comparability and quality of financial information at the international level, which is an incentive for investors and other market participants to make informed economic decisions. On the basis of the analysis, proposals for improving the quality of reporting of Russian organizations are formulated.