Abstract: The pervasive differences and inconsistencies within global accounting standards present formidable hurdles for multinational companies, investors and stakeholders on a global scale. This study proposes using advanced technologies to address these challenges. First, it proposes standardized reporting templates compatible with GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards), streamlining financial reporting and enhancing international comparability. It also explores blockchain technology for creating immutable, transparent, and auditable financial records, promoting trust and reducing manipulation. The analysis indicates that the adoption of standardized reporting templates compatible with GAAP and IFRS, complemented by AI-assisted compliance monitoring and blockchain-based recordkeeping, is associated with measurable improvements in financial reporting accuracy, reporting timeliness, and disclosure consistency, as evaluated through comparative indicators and statistical validation. Addressing global accounting standards convergence challenges requires technology integration, regulatory reforms, education, and stakeholder collaboration.

Keywords: accounting regulation, standard setting, convergence, blockchain technology, artificial intelligence

Pages: 38-52

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