Challenges and Reforms in the Accounting System of Ukraine: The
Impact of War and Transition to International Standards

C 2025

Challenges and Reforms in the Accounting System of Ukraine: The Impact of War and Transition to International Standards

BOHUŠOVÁ, Hana

Basic information

Original name

Challenges and Reforms in the Accounting System of Ukraine: The Impact of War and Transition to International Standards

Authors

BOHUŠOVÁ, Hana

Edition

Wroclaw, Modern Tools for Fraud Detection: Insights from the V4 and Ukraine, p. 50-61, 12 pp. 2025

Publisher

Publishing House of Wroclaw University of Economics and Business

Other information

Language

English

Type of outcome

Chapter(s) of a specialized book

Field of Study

50205 Accounting

Country of publisher

Poland

Confidentiality degree

is not subject to a state or trade secret

Publication form

electronic version available online

References:

URL, URL

Marked to be transferred to RIV

Yes

Organization unit

Ambis University

ISBN

978-83-68394-40-5

DOI

https://doi.org/10.15611/2025.40.5.04

Keywords (in Czech)

Ukrajina; účetní systém; IFRS; národní účetní standardy (NAS); harmonizace účetnictví; válečný konflikt; transparentnost výkaznictví; regulace;

Keywords in English

Ukraine; accounting system; IFRS; National Accounting Standards (NAS); accounting harmonisation; armed conflict; financial reporting transparency; regulation

Abstract

ORIG CZ

In the original language

This chapter examines the transformation of Ukraine’s accounting system from Soviet-era practices to International Financial Reporting Standards (IFRS), focusing on the challenges arising from the coexistence of National Accounting Standards (NAS) and IFRS and the impact of the ongoing war. Based on a qualitative analysis of institutional reports and academic literature, it identifies key barriers to full IFRS convergence, including legislative inconsistencies, limited professional expertise, tax-oriented accounting traditions, economic instability, and weakened regulatory enforcement. The war has further intensified asset impairments, currency volatility, and reporting uncertainty, while corruption and the large informal economy continue to undermine transparency. The chapter concludes that stronger regulatory oversight, expanded IFRS education, digitalisation, and international cooperation are essential to enhance the credibility and resilience of Ukraine’s financial reporting system.

In Czech

Tato kapitola analyzuje transformaci účetního systému Ukrajiny od sovětských účetních postupů k Mezinárodním standardům účetního výkaznictví (IFRS) se zaměřením na problémy vyplývající ze souběžné existence národních účetních standardů (NAS) a IFRS a na dopady probíhající války. Na základě kvalitativní analýzy odborné literatury a zpráv mezinárodních institucí identifikuje hlavní bariéry plné konvergence s IFRS, zejména legislativní nesoulad, nedostatek odborníků, daňově orientovanou tradici účetnictví, ekonomickou nestabilitu a oslabený dohled nad dodržováním předpisů. Válečný konflikt dále prohloubil problémy spojené se znehodnocením aktiv, kurzovou volatilitou a nejistotou ve výkaznictví, přičemž korupce a rozsáhlá neformální ekonomika nadále oslabují transparentnost. Kapitola uzavírá, že posílení regulatorního rámce, rozvoj odborného vzdělávání, digitalizace výkaznictví a intenzivnější mezinárodní spolupráce jsou klíčové pro zvýšení důvěryhodnosti a odolnosti ukrajinského systému účetního výkaznictví.

Cite

BOHUŠOVÁ, Hana. Challenges and Reforms in the Accounting System of Ukraine: The Impact of War and Transition to International Standards. Online. In Iryna Chuy, Vilmos Lakatos, Piotr Luty. Modern Tools for Fraud Detection: Insights from the V4 and Ukraine. Wroclaw: Publishing House of Wroclaw University of Economics and Business, 2025, p. 50-61. ISBN 978-83-68394-40-5. Available from: https://doi.org/10.15611/2025.40.5.04.

@inbook{503649,
   author = {Bohušová, Hana},
   address = {Wroclaw},
   booktitle = {Modern Tools for Fraud Detection: Insights from the V4 and Ukraine},
   doi = {https://doi.org/10.15611/2025.40.5.04},
   editor = {Iryna Chuy, Vilmos Lakatos, Piotr Luty},
   keywords = {Ukraine; accounting system; IFRS; National Accounting Standards (NAS); accounting harmonisation; armed conflict; financial reporting transparency; regulation},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {Wroclaw},
   isbn = {978-83-68394-40-5},
   pages = {50-61},
   publisher = {Publishing House of Wroclaw University of Economics and Business},
   title = {Challenges and Reforms in the Accounting System of Ukraine: The Impact of War and Transition to International Standards},
   url = {https://dbc.wroc.pl/Content/136786/Bohusova_Challenges_and_Reforms_in_the_Accounting_System.pdf},
   year = {2025}
}

TY  - CHAP
ID  - 503649
AU  - Bohušová, Hana
PY  - 2025
TI  - Challenges and Reforms in the Accounting System of Ukraine: The Impact of War and Transition to International Standards
VL  - Neuveden
PB  - Publishing House of Wroclaw University of Economics and Business
CY  - Wroclaw
SN  - 9788368394405
KW  - Ukraine
KW  - accounting system
KW  - IFRS
KW  - National Accounting Standards (NAS)
KW  - accounting harmonisation
KW  - armed conflict
KW  - financial reporting transparency
KW  - regulation
UR  - https://dbc.wroc.pl/Content/136786/Bohusova_Challenges_and_Reforms_in_the_Accounting_System.pdf
N2  - This chapter examines the transformation of Ukraine’s accounting system from Soviet-era practices to International Financial Reporting Standards (IFRS), focusing on the challenges arising from the coexistence of National Accounting Standards (NAS) and IFRS and the impact of the ongoing war. Based on a qualitative analysis of institutional reports and academic literature, it identifies key barriers to full IFRS convergence, including legislative inconsistencies, limited professional expertise, tax-oriented accounting traditions, economic instability, and weakened regulatory enforcement. The war has further intensified asset impairments, currency volatility, and reporting uncertainty, while corruption and the large informal economy continue to undermine transparency. The chapter concludes that stronger regulatory oversight, expanded IFRS education, digitalisation, and international cooperation are essential to enhance the credibility and resilience of Ukraine’s financial reporting system.
ER  -

BOHUŠOVÁ, Hana. Challenges and Reforms in the Accounting System of Ukraine: The Impact of War and Transition to International Standards. Online. In Iryna Chuy, Vilmos Lakatos, Piotr Luty. \textit{Modern Tools for Fraud Detection: Insights from the V4 and Ukraine}. Wroclaw: Publishing House of Wroclaw University of Economics and Business, 2025, p.~50-61. ISBN~978-83-68394-40-5. Available from: https://doi.org/10.15611/2025.40.5.04.

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