ACCOUNTING POLICY FOR DIGITAL ASSETS UNDER DIGITALIZATION: DISCLOSURE AND GOVERNANCE

Abstract

Formulation of the problem. The article examines the specific features of forming accounting policy for digital assets in the context of digitalization, with an emphasis on measurement, disclosure and corporate governance. Current regulatory requirements and standards provide a general methodological framework but do not fully reflect the specific nature of digital assets, which gives rise to variability in practices for their classification, valuation and disclosure. The aim of the research is to substantiate practically oriented approaches to improving accounting policy for digital assets, taking into account IFRS requirements, EU regulatory initiatives and the peculiarities of corporate governance in the context of digitalization. The object of the research is the accounting policy for digital assets. The methods of the research. The study employs general scientific methods of analysis and synthesis to process the requirements of IFRS and the practical experience of economic entities; methods of comparison, generalization and specification to analyse regulatory initiatives and authoritative publications; and a systems approach to identify interrelationships among elements of accounting policy, disclosure and corporate governance mechanisms. The hypothesis of the research. In the absence of a specialised International Financial Reporting Standard for digital assets, accounting policy plays a key role in upholding the principle of consistency, ensuring the qualitative characteristic of comparability in financial reporting, and reducing the risks associated with unsubstantiated professional judgements. The statement of basic materials. The research results indicate that the most critical factors for ensuring the informativeness of financial reporting are a clear definition of the scope of application of accounting policy, a standardised classification of digital assets, the formalisation of recognition and measurement criteria, and the establishment of mandatory disclosures and internal control procedures. The originality and practical significance of the research. The practical significance of the findings lies in their applicability to enhancing the transparency of financial reporting and the users’ trust in information about digital assets. Conclusions and perspectives of further research. Practically oriented recommendations are proposed for improving enterprise accounting policies with due regard to the requirements of digitalization, audit and corporate governance. Further research should focus on adapting accounting policy to changes in and the development of institutional regulation of digital assets.