DIGITAL TRANSFORMATION OF ACCOUNTING AND REPORTING: PROSPECTS AND RISKS FOR ENTERPRISES OF UKRAINE

Abstract

Relevance. The rapid development of the digital economy, the proliferation of information and communication technologies, business process automation, artificial intelligence, Big Data technologies, blockchain and cloud services necessitate the transformation of enterprise accounting and reporting systems. In the context of European integration processes, economic digitalization and increasingly stringent requirements for the timeliness, reliability and transparency of accounting information, the study of the prospects and risks of digital transformation of accounting for Ukrainian enterprises acquires particular relevance. At the same time, alongside significant opportunities, digitalization generates a number of challenges related to cybersecurity, data protection, personnel adaptation and the need to modernize information infrastructure.
Purpose of the study is to substantiate the theoretical and practical foundations of the digital transformation of accounting and reporting, as well as to identify the opportunities, prospects, and risks associated with the implementation of digital technologies in the accounting systems of Ukrainian enterprises.
Methods. The study utilizes a combination of general scientific and specific research methods, including analysis and synthesis to generalize theoretical approaches to accounting digitalization; the systems approach to examine interrelationships between digital technologies and accounting processes; comparative analysis to evaluate contemporary digital tools; graphical methods to visualize the stages of accounting evolution and the conceptual model of its digital transformation; and logical generalization to formulate conclusions and proposals.
Results. The current state of accounting digitalization in Ukraine and globally has been examined. The key directions of accounting system transformation under the influence of digital technologies have been identified. The main advantages of applying artificial intelligence, cloud technologies, Big Data, blockchain and robotic process automation in accounting and reporting have been systematized. The risks of digital transformation have been summarized, including cyber threats, risks of loss of information confidentiality, algorithmic errors, technological dependency and a shortage of qualified personnel. An original conceptual model of the digital transformation of accounting and reporting for Ukrainian enterprises has been proposed, which envisages the integration of modern digital technologies into a unified information framework, the automated generation of reports in real time, the application of intelligent forecasting algorithms, and the integration of internal control and audit systems.
Practical value of the study. The practical value of the study lies in the potential application of the proposed conceptual model for modernizing the accounting and analytical systems of enterprises across various sectors of the economy, enhancing the quality of managerial decision-making, improving the quality of financial information and strengthening the competitiveness of economic entities in the digital economy.
Conclusions. It has been established that the digital transformation of accounting is an objective prerequisite for improving enterprise performance and ensuring their adaptation to contemporary business conditions. The greatest potential is held by technologies of artificial intelligence, automation, Big Data and blockchain, which are capable of significantly enhancing the timeliness, accuracy and analytical value of accounting information. At the same time, the effectiveness of digital transformation depends on adequate risk management, the development of digital competencies among personnel, and the improvement of the regulatory and legal framework governing digital processes.