A B S T R A C T

The purpose of the research is to assess the implementation status of the changes made to IFRS based on the updated Conceptual Framework in 2018.

The methodology of the research - comparative analysis, analysis, and synthesis methods were widely used during the study.

The practical importance of the research - to provide users of financial statements with detailed information on the application features of the relevant IFRS in accordance with the updated Conceptual Framework.

The results of the research - to evaluate the final results of making fundamental changes to the relevant IFRS in accordance with the updated Conceptual Framework.

The originality and scientific novelty of the research - to provide proposals for improving relevant legislative acts to make timely amendments to the relevant IFRS in accordance with the updated Conceptual Framework.

Keywords: Conceptual Framework, IFRS, IASB, Accounting Advisory Council, Law on Accounting.

http://doi.org/10.59610/bbu1.2026.1.1.