IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 10 NO. 8 2024
DOI: 10.56201/ijebm.v10.no8Sept.2024.pg85.100

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Transparency and Accountability in Public Sector Financial Reporting in Nigeria: Influence of International Public Sector Accounting Standards (IPSAS) Adoption

Ijeoma Scholastica Omemgbeoji, Prof. Joshua Kenechukwu Onuora

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Abstract

The study examined the extent to which International Public Sector Accounting Standards (IPSAS) adoption relates with the transparency and accountability in public sector financial reporting in Nigeria. The specific objective was to examine the degree to which IPSAS adoption enhances financial reporting transparency and accountability in financial reporting of Nigerian public sector. This study employs a cross-sectional survey design. The population for this study consists of 6,393 staff from federal ministries, departments, and agencies (MDAs) located in Anambra State, Nigeria. A sample of 121 respondents was determined using the Taro Yamane formula for sample size calculation. Primary data for this study were collected through a structured questionnaire. Descriptive statistics, including mean, and frequency analysis were used to summarize and interpret the data. Inferential statistics, specifically Pearson Correlation, was employed to test hypotheses. Statistical analyses were performed using SPSS version 26. The findings showed that: IPSAS adoption significantly enhances financial reporting transparency in the Nigerian public sector (Pearson Correlation: 0.819, p-

keywords:

International Public Sector Accounting Standards (IPSAS) adoption, Transparency

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