Accountants’ Perceptions of IPSAS Application in Nigerian Public Sector Financial Management and Reporting

摘要

This study examined accountants’ perception of IPSAS acceptance in Nigerian public sector financial management and reporting. There are conflicting or divergent views as to what will accrue or what Nigeria stand to gain as result of adoption or implementation of IPSAS in Nigerian public sectors financial management and reporting. Survey research design was adopted. Taro Yamane was used to determine the sample size of 283 from the population of 972 accountants. Data were obtained through the use of questionnaires administered on a sample size of 283 respondents from the offices of Accountant and Auditor General of Kogi and Benue States. Mean, standard deviation, line graph estimated marginal means and General Linear Model Univariate analysis were used to analyze the primary data via SPSS Version 20. The study revealed that the adoption of IPSAS will increase transparency and answerability in financial management and reporting of Nigerian Public Sector. Also that adoption and implementation of IPSAS will facilitate the quality of financial accounting reporting in the Nigerian Public Sector. Another finding is that the benefits of adoption of IPSAS override the costs in Nigerian Public Sector. We therefore conclude that the adoption of accrual basis of accounting though has not been applied before in Nigeria but the implementation will be of immense benefits to our nation. We recommend amongst others that efforts should be geared to enshrine the requirements of IPSAS into Nigerian regulatory framework for financial management and reporting and the constitution of the Federal Republic of Nigeria.