Impact of International Public Sector Accounting Standards (IPSAS) Adoption on Financial Accountability in Selected Local Governments of Oyo State, Nigeria
Journal Title: Asian Journal of Economics, Business and Accounting - Year 2017, Vol 3, Issue 2
Abstract
The study evaluated the impact of International Public Sector Accounting Standard (IPSAS) on the financial accountability of selected local governments of Oyo State, Nigeria. The impact of IPSAS adoption on corruption reduction, transparency and accountability in the selected Local Governments were critically examined. The study which adopted survey design collected data using five point likert-scale questionnaires which was administered on sample of 105 Accountants and Internal Auditors in the selected local governments of Oyo State Nigeria. The data was analyzed using descriptive statistics. The hypotheses formulated were tested using chi-square analysis at 5% level of significance. The result of the study showed that adoption of IPSAS increases the level of accountability, transparency and reduces corruption in the selected local governments. This implied that the economy of Nigeria will be better off if IPSAS is fully adopted and implemented. Having seen IPSAS as the agents of the needed change in Nigeria, the study recommends that Nigerian government should enact an enabling law to back up the adoption and implementation of IPSAS and more importantly institute appropriate sanctions to ensure full compliance.
Authors and Affiliations
O. Ademola, Abimbola, A. Adegoke, Kolawole, A. Oyeleye, Olufunke
Keywords
Related Articles
- EP ID EP338518
- DOI 10.9734/AJEBA/2017/33866
- Views 168
- Downloads 0
Official Development Assistance and Economic Development: Evidence from the West African Monetary Zone
The goal of this paper is to examine the linkage between official development assistance (ODA) and economic development in the West African Monetary Zone (WAMZ). The study made use of annualized data from six WAMZ countr...
The Prospects of Agriculture in Nigeria: How Our Fathers Lost Their Way - A Review
The Nigerian agricultural sector was a resilient sustainer of the economy and the Nigerian people in terms of food supply, employment and national income generation. This was possible as a result of focused regional base...
Determinants of Triple Bottom Line Disclosure Practice of Listed Manufacturing Firms on the Nigerian Stock Exchange
The study examines the determinants Of Triple Bottom Line Accounting Practice Of Listed Manufacturing Firms On The Nigerian Stock Exchange. The specific objectives of this study are to determine the relationship between...
Accounting Ethics and Audit Quality in Nigeria
The study examined the effects of accounting ethics on audit quality in Nigeria. Although no method yet has been found to guarantee the optimum quality level for the financial information users, and implicitly the qualit...
Culture and Accounting Practices in Indonesia
This article discusses the cultural impacts on the accounting values and practices in the context of Indonesia. Hofstede’s cultural dimensions (individualism versus collectivism, large versus small power distance, strong...