The article reveals the patterns of how intensively the software is used by corporate entities in the preparation of financial reports. The authors demonstrate the dual nature of the use of national accounting standards and international counterparts, where a special attention is given to the software that processes quantitative and qualitative data for generating such reports. The study reflects the issue of the influence of the human factor on the accuracy of calculations, as well as the issue as regards the necessity for duplication of information into different computer programs. In the course of obtaining the results, the authors found out the contradictions of legal and financial aspects, trade secrecy and regulatory requirements. As it turned out, contemporary conditions of functioning of commercial entities do not contribute to the optimization and transparency of reporting, as well as do not ensure the transition of companies to conformity with international standards. The authors have presented an overview of critical issues when using existing software for collecting and processing information, considered options for minimizing them and presented the economic rationale for necessary changes in corporate governance, taking into account tendencies in the information technology market.
Volume 11 | 08-Special Issue
Pages: 406-410