FINANCIAL TRANSPARENCY, ACCOUNTING & ESG STANDARDS AS FACTORS IN SHAPING THE COMPETITIVE ADVANTAGE OF UKRAINE'S ECONOMY

Abstract

This paper examines the impact of financial transparency and accounting standards on the formation of Ukraine’s competitive advantage in the context of global economic integration. The paper key international financial reporting standards – GAAP and IFRS, a comparative analysis of these standards, as well as the peculiarities of financial reporting in Ukraine. It also analyses the role of transparency in reducing information asymmetry, strengthening investor confidence and reducing the cost of capital. The study finds that the harmonisation of accounting standards and the implementation of transparency principles are prerequisites for the integration of the economy into the international market, increasing its investment attractiveness and strengthening its position in the global economy. The purpose of this work is to substantiate the role of financial transparency and accounting standards in shaping Ukraine's competitiveness in the international market.