DIGITAL TECHNOLOGIES IN ACCOUNTING AND AUDITING OF FINANCIAL INSTRUMENTS FOR PRICE RISK MANAGEMENT

Abstract

Introduction. In the current conditions of financial market instability, geopolitical challenges and increased inflationary processes, the issues of price risk management, which directly affect the financial results and competitiveness of business entities, are of particular relevance. Price risks arise due to fluctuations in market prices for raw materials, goods, financial assets, interest rates and exchange rates. To minimize the negative consequences of such changes, enterprises actively use financial risk management instruments, in particular forward and futures contracts, options, swaps and other hedging mechanisms. The effectiveness of the use of these instruments largely depends on the quality of information support, the timeliness of accounting data and the reliability of the audit assessment of transactions related to risk management. The purpose of the article is to determine the features of the use of digital technologies in auditing, as well as the features of the use of financial tools in price risk management. Results. It was found that the increase in the volatility of financial and commodity markets, the intensification of global economic challenges and the need to ensure the financial stability of business entities actualize the need to implement modern digital solutions to increase the efficiency of accounting and auditing support for risk management processes. The features of the application of financial instruments for hedging price risks were considered and the role of digital technologies in improving the quality of their accounting, assessment, control and audit was determined. As a result of the study, the main directions for improving the accounting and auditing support for financial instruments for managing price risks based on digital technologies were identified. Conclusions. The study made it possible to establish that the digital transformation of the economy significantly affects the development of accounting and auditing systems for financial instruments for managing price risks. In the context of increasing instability of financial and commodity markets, increasing global challenges and increasing requirements for the quality of information support for management decisions, digital technologies are becoming an important tool for increasing the efficiency of accounting, control and audit risk assessment processes.