International Public Sector Accounting Standards (IPSAS) Adoption and Governmental Financial Reporting in Nigeria- An Empirical Investigation.
Journal Title: Journal of Advances in Social Science and Humanities - Year 2017, Vol 3, Issue 1
Abstract
Governments all over the world are seen to be representatives of the people. They are by implication agents of their service recipients/citizens. As agents, they are responsible to the people in the area of rendering reliable, transparent, timely and accurate stewardship through financial reporting. Nigeria, in order to ensure more accountability, reliability and transparency recently adopted the International Public Sector Accounting Standards (IPSAS) as the basis of government reporting. This study examined the effects on IPSAS adoption of government reporting in Nigeria. Primary data were sourced amongst accountants and auditors of government ministries, departments and agencies within the Rivers State Civil Service. The data were presented using tables and charts. They were further analyzed using simple percentages. The study revealed that IPSAS adoption will result in financial transparency/accountability, strengthened internal controls, boosts financial and resource stewardship and increased efficiency in decision making and good governance. The researcher therefore supports and recommends the adoption and seamless implementation of accrual based government financial reporting system due to the above attendant benefits derivable from its adoption.
Authors and Affiliations
Obara, Lawyer Chukwuma, Nangih, Efeeloo
Keywords
Related Articles
- EP ID EP312458
- DOI -
- Views 64
- Downloads 0
Total Quality Management Practices and Competitive Advantage in the Nigerian Aluminum Industry
The purpose of this study is to examine the effect of Total Quality Management (TQM) practices on competitive advantage in the Nigerian Aluminum Industry. It examined TQM along four dimensions: visual management; just-in...
A Literature Review of Retention and Recruitment Strategies of Historically Black Colleges and Universities (HBCUs)
Black Colleges and Universities (HBCUS) were initially founded with the aim of providing higher education to the African American Community. These institutions have progressed to grow and widened their scope to recruit d...
Results Performance Mismatch: Implications on English Language Assessment in Zimbabwe.
Examinations at any given level are yardsticks to measure the students’ mastery of concepts in various subjects or disciplines studied. The results from the examinations can ultimately be used by prospective educators an...
FACTORS THAT AFFECT PRODUCTIVITY AT MEDUPI POWER PROJECT STATION SOUTH AFRICA
Purpose – the purpose of the paper is to provide the overview in the factors that undermine overall productivity at Medupi Power Station in the project level. Design/methodology/approach - The study was conducted by gath...
Effectiveness of a computer-based learning module on arterial blood gas interpretation among staff nurses in critical care units
Continuous education and updating knowledge and skills for nurses is very important, because they working in di˙erent shifts, do not have the opportunity to participate in face-to-face teach-ing sessions; self-educating...