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International Public Sector Accounting Standard (IPSAS) in Nigeria as a Correlate to Transparency and Accountability
Journal of Finance and Accounting
Volume 6, Issue 5, September 2018, Pages: 110-116
Received: Sep. 3, 2018; Accepted: Oct. 19, 2018; Published: Nov. 12, 2018
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Innocent Felix Idoko, Department of Accountancy, Taraba State University, Jalingo, Nigeria
Susan Peter Teru, Department of Accountancy, Taraba State University, Jalingo, Nigeria
Mustapha TafidaAminu, Department of Accountancy, Taraba State University, Jalingo, Nigeria
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International Public Sector Accounting Standard (IPSAS) is the version of International Financial Reporting Standardfor meetingcomplex challenges of modern financial reporting. (This is in terms of coherency, consistency, uniformity, internationalization, and clarity in the preparation and reporting standard for public sector financial information. This study is empirical and seeks to determine the correlation between IPSAS implementation and transparency and Accountability in the Nigeria Public sector. A positive correlation will be in consonance with the Accounting theory of fair reporting of the socio-economic position and performance of practicing organizations. Conclusion can be that transparency and Accountability are being embraced. Consequently, such result justifies the Direct Benefit Theory for instance that direct capital inflow into Nigeria from other IPSAS practicing countries is being facilitated. A hypothesis on the relationship between IPSAS implementation and Transparency and Accountability was formulated. The Central Bank of Nigeria and the Auditor General of the Federation’s offices from which 100, and 50 staff randomly selected provided useful information. Primary and secondary data utilized were utilized for this study. Simple percentages were used for ratings in the analysis of data. The hypothesis was tested through the Product – Moment Correlation. Out of 150 respondents, 102 (or 68%) posited that there is a high correlation between IPSAS implementation and transparency and accountability in IPSAS practicing organizations. Correlation coefficient, r of 0.20 (or 20%) obtained implies a Linear relationship. The null hypothesis of no correlation between IPSAS implementation and transparency and accountability was rejected, while the alternative hypothesis was accepted. Conclusion was that 20% coefficient shows a weak correlation implying the need for complementary independent variables (like increased regulatory framework) as transparency and accountability re-enforcements. It is recommended that more regulatory framework be promoted.
Accountability, Clarity, Coherency, Consistency, Correlation, Internationalization, Standard, Transparency
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Innocent Felix Idoko, Susan Peter Teru, Mustapha TafidaAminu, International Public Sector Accounting Standard (IPSAS) in Nigeria as a Correlate to Transparency and Accountability, Journal of Finance and Accounting. Vol. 6, No. 5, 2018, pp. 110-116. doi: 10.11648/j.jfa.20180605.12
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This article is an open access article distributed under the Creative Commons Attribution License ( which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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