Disclosed statement digitalization: Challenges and solutions

Subject. This article discusses the areas of concern associated with the digitalization of economic entities' accounting statements to be published. Objectives. Based on the study of Russian and foreign practices, the article aims to identify opportunities, problems and risks that arise for compilers, auditors, analysts, software developers, and regulatory authorities when submitting accounts to be published in electronic format based on XBRL, and ways to solve those numerous problems. The article also aims to identify new challenges that may arise as a result of the transition to statutory sustainability reporting, and its digital presentation. Methods. For the study, I used analysis, synthesis, comparison, generalization, and abstraction. Results. The article defines the major opportunities, significant problems and risks associated with the transition to the submission of economic entities' accounting and financial statements in electronic format. The article finds that the lack of a generally recognized taxonomy of reporting in the field of sustainable development is a new challenge to the digitalization of accounting reporting to be disclosed. Conclusions and Relevance. The transition to corporate reporting e?filing demands the organization's top management to give due consideration of the issue, and IT specialists, accountants, auditors, and specialists of other functional units involved in the preparation of corporate reporting to coordinate cross-functionally. The results of the study can be taken into account when implementing accounting reporting e-filing.