Impact Of International Public Sector Accounting Standards Adoption On Accountability In Public Sector Financial Reporting In Nigeria

Duenya, Mosess I.; Upaa, Jocelyn U.; Tsegba, Ioraver N.

doi:10.14738/abr.510.3693

Cited by 7 publications

(8 citation statements)

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“…The Board launched the IPSAS as global standards for preparing and presenting public sector financial statements (Adamu and Ahmed, 2014). Thus, IPSAS comprises cash and accrual basis of accounting (Duenya et al, 2017). So, consolidated accounts of all public entities are required to be prepared by the central government of a country adopting IPSAS (Khan et al, 2014).…”

Section: Ipsasmentioning

confidence: 99%

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Effects of implementation of International Public Sector Accounting Standards on Nigeria’s financial reporting quality

Muraina

Dandago

2020

IJPSM

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Purpose The purpose of this paper is to examine the effects of the implementation of the International Public Sector Accounting Standards (IPSAS) on Nigeria’s financial reporting quality. Design/methodology/approach The study employed a survey research design to determine the effects of the implementation of the IPSAS on Nigeria’s financial reporting quality. Partial Least Square 3(SmartPLS 3) technique of analysis was applied to achieve the research objective. Findings The study found that accountability positively and significantly affects the quality of financial reporting in Nigeria. Specifically, IPSAS has improved the level of accountability, which in turn improved Nigeria’s financial reporting quality. Research limitations The study only explored two explanatory variables whereas other variables such as transparency, corruption minimization, comparability and faithful representation were not considered in this study. It is, therefore, recommended that further studies could expand the scope to cover some other variables not included in this paper. Practical implications IPSAS-Accrual has engendered the Nigerian Government to launch the Asset Tracking and Management Project (ATMProject) in order to easily track its assets for the purpose of accountability. Thus, accountability was discovered in this study to be the most essential factor to enhance the quality of financial reporting using accrual-based IPSAS in Nigeria. Social implications Accountability will impact positively on the lives of Nigerians in relation to the application of public funds to impact on the lives of the masses. Originality/value The statistical significance of accountability found in this study, using partial least square technique of data analysis, will further enhance financial integrity in the country.

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Section: Ipsasmentioning

confidence: 99%

“…Another study was conducted by Duenya et al (2017) on the effect of adopting IPSAS on accountability in public sector financial reporting in Nigeria. Primary data were collected from a sample of 130 from a population of 193 accounting personnel (AP), academics (AA) and auditors (AU) within Benue State.…”

Section: Implementation Of Ipsas: An Overviewmentioning

confidence: 99%

Effects of implementation of International Public Sector Accounting Standards on Nigeria’s financial reporting quality

Muraina

Dandago

2020

IJPSM

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“…Past studies have reported that developing countries are implementing them as a mere fashion, accompanied by non-preparedness of accountants and auditors [5,6,7,8]. In addition to that, most of them are adopting and implementing accrual-based IPSAS as a response to pressure from development partners [1,9,10,11,12,13]. This indicates that there are factors that influence the implementation of accrual-based IPSAS, in the Public Authorities, Local Government Authorities (LGAs) and Central Government [14,3].…”

Section: Introductionmentioning

confidence: 99%

Factors Influencing Implementation of Accrual Based International Public Sector Accounting Standards in Tanzanian Local Government Authorities

Matekele

Komba

2020

AJEBA

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This research examined the factors influencing implementation of accrual-based International Public Sector Accounting Standards (IPSAS) in the Tanzanian Local Government Authorities (LGAs). The study adopted a survey design. Based on extant literature, a structured questionnaire was developed. Then a drop-and-pick method was employed to administer the survey instrument to accountants and auditors from the LGAs in Tanzania. We successfully obtained 150 useful responses and applied factor analysis to determine the factors followed by multiple regression analysis. According to factor analysis performed, 15 factors were identified as the factors influencing implementation of accrual-based IPSAS. Such factors include staff experience, understanding, and skills, in-house training necessity, involvement of professional accountants with high ethical conduct and hope for future business opportunities including attraction of development partners. The study also examined how the identified factors affect implementation of accrual-based IPSAS in the LGAs. Our findings show that staff experience, in-house training necessity, understanding and skills, involvement of professional accountants and publication of financial statements with standardized format; significantly influence implementation of accrual based IPSAS in the LGAs. Other factors like sanctions by regulatory authorities, pressure from development partners and adequate implementation policies were also reported to have significant impact. Since this research involved 7 LGAs out of 185 found in Tanzania Mainland, we recommend further studies to take into account the rest of the LGAs in Tanzania and abroad.

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“…According to Nweze (2013) These are accrual system and cash basis accounting. The embracing of International Public Sector Accounting Standards has some usefulness purposes such as demonstrate the correctness and reasonableness of transactions and their agreement with established rules; give evidence of accountability for the stewardship of government resources; make available vital information for good control and prudent management of government activities, contributing to the improvement of evaluation of financial performance as the financial statements will reflect all expenditures and incomes, providing evidence on whether revenue streams are suitable to meet short and long term liabilities; making comprehensive information relating to expenditure available which can help in knowing the cost implications of policies and enabling comparison with substitute policies; determining the future sustainability of programmes, liquidity position and comprehensive information on the financial position of government at the end of the financial year; and improving good governance (Okoye and Ani, 2004;Duenya, Upaa and Tsegba, 2017).…”

Section: Public Sector Accountingmentioning

confidence: 99%

Effect of Adoption of International Public Sector Accounting Standards (Ipsas) in the Public Sector of Delta State

Nzewi¹,

Faith²

2015

IJAAR

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The study prompted by the inconsistent and contradictory findings from the previous studies; ranging from positive to negative, hence some authors are seeing it as a welcome development while others are having a contrary view to it. This study therefore, determined the effect of international public sector accounting standards (IPSAS) on Delta State ministry of finance with emphasis on accountability and, transparency among public officers in Delta State. Survey research design will be adopted. A sample of one hundred and eighty five (185) was drawn from a population of three hundred and forty three (343) staff from Delta State Ministries, Departments and Agencies (MDAs). Data was obtained from questionnaire administered on the sample population. Data obtained was analyzed using five point likert’s scale and the formulated hypotheses were tested using regression analysis with aid of SPSS Version 20.0. From the analysis of the data the adoption of International public sector accounting standards leads to accountability and transparency among public officers in the ministry. Based on this, the study recommends that Nigerian government should provide the necessary requirements for full implementation and sustenance of IPSASs in the public sector if it is actually sincere and serious about tackling corruption in the country.

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Impact Of International Public Sector Accounting Standards Adoption On Accountability In Public Sector Financial Reporting In Nigeria

Cited by 7 publications

References 1 publication

Effects of implementation of International Public Sector Accounting Standards on Nigeria’s financial reporting quality

Effects of implementation of International Public Sector Accounting Standards on Nigeria’s financial reporting quality

Factors Influencing Implementation of Accrual Based International Public Sector Accounting Standards in Tanzanian Local Government Authorities

Effect of Adoption of International Public Sector Accounting Standards (Ipsas) in the Public Sector of Delta State

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