THE EFFECT OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS) ON FINANCIAL REPORTING QUALITY OF ANAMBRA STATE PUBLIC SECTOR

Abstract

This study examines the effect of international public sector accounting standards (IPSAS) on financial reporting quality of Anambra State public sector. Three (3) objectives were formulated using accountability, transparency and corruption reduction. Survey research design and primary data were used for the study. The copies of the questionnaire were distributed to the respondents which were designed in a structured form according to the three (3) research questions. The population of the study consists of all the staff of Anambra State ministry of finance, Awka. The element of the population comprises all the 127 staff of the ministry. Since the population size is not much, the researcher used all the population size for the study. Validation of the instrument was done. The result of their responses was correlated using Cronbach Alpha formula, with Coefficient Value of 0.82 obtained for internal consistency. Data collected for the study were analyzed by the researcher using frequency counts, mean score and standard deviation. The three hypotheses were tested using Chi square statistical tool with aid of SPSS version 20.0 at 5% level of significance. The study revealed that the adoption of International public sector accounting standards leads to accountability; enhance transparency and reduce corruption among public officers in the state. Based on the result of the study, the researcher recommends that the 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.