Scientific Bulletin of Mukachevo State University. Series “Economics”

Vol. 13, No. 2, 2026 25.05.2026 open access Open access

The role of accounting and auditing in enhancing the transparency of financial reporting of agricultural enterprises in the context of international standards

Yevhen Terekhov

DOI https://doi.org/10.52566/msu-econ2.2026.32 Pages 32 –43 Views 10 Views

Abstract

The aim of the study was to assess the impact of International Financial Reporting Standards and International Standards on Auditing on the transparency of the financial reporting of large agricultural enterprises in Ukraine during the period 2020-2024. The study covered the activities of four companies: the limited liability agricultural enterprise “NIBULON”, Kernel Holding, the private joint-stock company “Myronivsky Hliboproduct”, and the limited liability company “Agroprosperis Trade”. The research applied a combination of methods, including content analysis, comparative analysis, and SWOT analysis, which enabled a comprehensive assessment of the transparency of financial reporting among agricultural enterprises. The results demonstrated that Kernel Holding possessed the most transparent financial reporting, with an average transparency score of 4.6, followed by the private joint-stock company “Myronivsky Hliboproduct” with a score of 4.5. The limited liability agricultural enterprise “NIBULON” received a score of 4.3, while the limited liability company “Agroprosperis Trade” achieved 3.9. The frequency of identifying key audit matters ranged from 78% in “Agroprosperis Trade” to 92% in Kernel Holding, whereas the depth of audit procedures varied from 290 to 380 hours annually, respectively. The analysis of reporting structures revealed significant differences between national and international standards, particularly in the greater level of detail regarding assets, liabilities, income, and the disclosure of accounting policies and risks under international standards. The SWOT analysis indicated that the principal opportunities for enhancing transparency include the standardisation of reporting formats, the strengthening of internal controls, and the expansion of audit procedures, while the key threats comprise limited resources for conducting audits and the instability of the external environment. The obtained results are of practical significance for managers of agricultural enterprises, audit firms, and regulatory authorities, as they may be used to improve the transparency of financial reporting, adapt internal procedures to the requirements of international standards, and enhance auditing practices

Keywords

agricultural business; accounting policy; auditing practices; corporate governance; professional judgement

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Suggested citation

Terekhov, Y. (2026). The role of accounting and auditing in enhancing the transparency of financial reporting of agricultural enterprises in the context of international standards. Scientific Bulletin of Mukachevo State University. Series “Economics”, 13(2), 32-43. https://doi.org/10.52566/msu-econ2.2026.32