Public sector accounting standards and quality of financial reporting: A case of Ogun state government administration in Nigeria

Okere, Wisdom and Eluyela, F. D. and Bassey, Inemesit and Ajetunmobi, Opeyemi (2018) Public sector accounting standards and quality of financial reporting: A case of Ogun state government administration in Nigeria. Business and Management Research Journal, 7 (7). pp. 76-81. ISSN 2026-6804

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Abstract

This study evaluated the relationship between International Public Sector Accounting Standard (IPSAS) adoption and reliability, credibility and integrity of financial reporting in State Government Administration in Nigeria. The study builds on the work of Ndinaiwe (2013) who posits that the transition to IPSAS and the presentation of accrual based financial statement will have a significant impact on oversight tasks. The study made use of survey research design. The findings showed that implementation of IPSAS will improve the reliability, credibility and integrity of financial reporting in State Government administration in Nigeria. Also, it was observed that implementation of IPSAS based standards can facilitate efficient internal control and result based financial management in the public sector of Nigeria. Implementation of IPSAS can enhance Federal Government’s goal to significantly deliver services more effectively and efficiently. Accountability is no doubt the hallmark for good governance. This study shines more light to public sector accounting to ensure that political office holders, citizens and stakeholders in the Nigerian project embrace integrity, transparency and accountability public funds management. Furthermore, we concluded that implementation of IPSAS by public sectors in Nigeria will impact positively on reliability, credibility and integrity of financial reporting and promote uniform chart of financial reporting by the three tiers of Government in Nigeria. Keywords: Credibility; Reliability; Accountability; Governance; Implementation

Item Type:	Article
Subjects:	H Social Sciences > HF Commerce > HF5601 Accounting
Depositing User:	Mr DIGITAL CONTENT CREATOR LMU
Date Deposited:	27 Sep 2019 11:06
Last Modified:	27 Sep 2019 11:06
URI:	https://eprints.lmu.edu.ng/id/eprint/2443

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