Subject. This article discusses the provisions of Russian accounting regulatory standards and legislative acts aimed at ensuring the reliable presentation of accounting (financial) statements. Objectives. The article aims to identify mechanisms capable of providing reliable representation of accounting information for private external users when making economic decisions. Methods. For the study, I used the methods of analysis, synthesis, comparison, and generalization. Results. The article finds that regulatory accounting, aiming to provide reliable accounting information for economic decision-making, can ensure the interests of private external users only through the regulation of the preparer's activities. At the same time, accounting (financial) statements serve as an important information source, which creates the prerequisites for the existence of informational duties to provide reliable information about the financial and economic condition, significant for concluding a contract, or to refrain from presenting it inaccurately. Conclusions. The potential for using existing mechanisms of informational duties to ensure reliable accounting (financial) reporting for private external users when entering into contractual relationships currently remains theoretical due to the lack of established judicial practice. Although accounting (financial) statements are recognized by legislation as a source of information about the financial and economic condition, the accurate presentation of which must be ensured by economic entities, nevertheless, the obligation to provide such information may be fulfilled through other sources.
Keywords: financial reporting, reliability of financial statements, information and communication function, informational duties, good faith principle
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