COMPARATIVE ANALYSIS OF UNDERSTANDING TRANSPARENCY IN CORPORATE GOVERNANCE AND ACCOUNTING

Abstract

Introduction. Improving the corporate governance system in modern conditions presupposes ensuring its transparency, which will contribute to increasing the effectiveness of decisions made both by the management of corporate structures and by external stakeholders. It is necessary to determine the components of this category to ensure a high level of corporate transparency, which will form further ways to improve it, in particular, by developing a system of accounting and analytical support for corporate governance. Methods. The author uses dialectical and systematic approaches to study the features and differences of corporate governance and accounting systems; abstract and logical method – for theoretical generalizations and substantiation of ways of improving accounting for corporate needs of enterprises. Results. The absence of a common understanding of the concept of corporate transparency has been determined. Three main options for understanding the importance of transparency in corporate governance and accounting have been identified. The features of understanding of transparency in corporate governance in the context of the stakeholder approach have been revealed. The features of ensuring corporate transparency in the context of the existence of the problem of economic security and confidentiality of information have been highlighted. Information transparency in the corporate structure is defined as a system of relationships and interactions between its stakeholders, which is that the entities generating and disseminating information provide all other interested parties with the necessary information for the management decisions and their further implementation in the necessary form. Discussion. Research prospects consist in certain components of the concept of transparency in corporate governance, used by researchers to substantiate its essence (openness, understandability, quality). Keywords: corporate governance, transparency, accounting principles, quality characteristics of useful financial information.