The article is devoted to a comprehensive analysis of the impact of International Financial Reporting Standards (IFRS) on improving information transparency and the quality of disclosure of material information in corporate reporting. The paper examines the key aspects of the transformation of the accounting system of Russian companies during the transition to IFRS. The relevance of the work is due to the entry of Russian companies into international capital markets, ensuring the financial stability of national economies by attracting foreign investors and integrating into global economic processes. Using the practical example of PJSC Severstal, a comparative analysis of financial information disclosure under Russian Accounting Standards (RAS) and IFRS is carried out, and the impact of applying international standards on the reliability and transparency of financial statements for a wide range of interested users is assessed. The scientific novelty consists in an unconventional approach to solving problems, such as identifying key instruments of financial stability and structural factors contributing to the formation of an objective picture of economic activity. Using methods of comparative analysis of financial disclosure of RAS and IFRS, as well as the integration of financial statements into the global financial system. To achieve the purpose and objectives of the work, methods of analysis, synthesis, comparison and systematization of information from scientific literature, publications and practical reviews on IFRS, websites of the Ministry of Economic Development are used. It is concluded that the transformation of financial reporting requires organizations to rethink traditional management models and switch to qualitatively new principles for the formation of reporting information. The prospects for further development of the reporting system of PJSC Severstal and other Russian companies are associated with new challenges, such as the introduction of sustainable development standards (ESG disclosures) and digitalization of reporting processes.
IFRS, RAS, financial statements, transparency, materiality, disclosure of information, PJSC Severstal, RAS, consolidated financial statements, management decisions
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