This study examines the evolution of financial reporting standards and their impact on transparency and accountability in corporate governance. Using a qualitative approach with literature study and content analysis methods, this study analyzes various literature and documents related to the development of financial reporting standards, including IFRS (International Financial Reporting Standards) and GAAP (Generally Accepted Accounting Principles), as well as applicable regulations in various jurisdictions. Changes in global and national financial reporting standards have been designed to improve the clarity of financial information and strengthen corporate accountability to stakeholders. However, implementation varies between companies, and the challenges of adapting new standards create differences in reporting quality-ty. The findings of this study show that evolving financial reporting standards have a positive impact on improving financial information disclosure, thereby enabling stakeholders, including investors, regulators, and the public, to make more informed decisions. Increasingly complex and integrated standards also play a role in strengthening the accountability mechanism in corporate governance. However, challenges faced in the implementation process, such as differences in practices between countries and gaps in understanding between financial managers, hinder the achievement of full transparency goals. The study concludes that while the evolution of financial reporting standards contributes significantly to increased transparency and accountability, the success of their implementation is highly dependent on the commitment of companies and the effectiveness of regulators in supervision. The recommendations of this study include the need for comprehensive training for financial practitioners and the strengthening of cross-border regulations to ensure harmonization in the implementation of global financial reporting standards.
Salomi Jacomina Hehanussa (Tue,) studied this question.