IMPACT OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS) ON FINANCIAL REPORTING IN EDO STATE, NIGERIA

https://doi.org/10.5281/zenodo.8409842

Authors

  • Prof Enyinna Okpara PhD., FCA Department of Accounting and Finance School of Management and Social Sciences, Wellspring University Benin City, Edo State
  • Eke Robert Ike, PhD., FCA Department of Accounting and Finance School of Management and Social Sciences, Wellspring University Benin City, Edo State
  • Ajabor Elvis Department of Accounting and Finance School of Management and Social Sciences, Wellspring University Benin City, Edo State

Keywords:

IPSAS, Financial Reporting, Public Sector, Transparency

Abstract

This study investigated the impact of International Public Sector Accounting Standards (IPSAS) on financial reporting in Edo State, Nigeria. The specific objectives of the study were to investigate the effect of IPSAS on the disclosure of financial information in the public sector in Edo State, examine the impact of IPSAS on transparency and accountability in financial reporting in the public sector in Edo State, and evaluate the influence of IPSAS on the comparability of financial reporting in the public sector in Edo State. The study employed a survey design approach, and questionnaires were administered to 208 chartered accountants working in Ministries and Agencies under the Edo State Government. Descriptive and inferential statistics were used to analyze the data, and Pearson Chi-Square was employed to test the study's hypotheses. The findings revealed that IPSAS has a significant impact on the disclosure of financial information, transparency, and accountability in public sector financial reporting in Edo State. Additionally, it was found that IPSAS has a significant influence on the comparability of financial reports. In conclusion, this study demonstrates that IPSAS has a substantial impact on public sector financial reporting in Edo State, Nigeria. The study recommends that the adoption of IPSAS should be sustained, annual financial reports should be published in a timely manner and made accessible through the internet as a dissemination medium. Furthermore, reporting entities should enhance the level of disclosure in their financial reports

Published

2023-10-05

How to Cite

Okpara, E., Eke , R. I., & Ajabor , E. (2023). IMPACT OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS) ON FINANCIAL REPORTING IN EDO STATE, NIGERIA. Journal of Interdisciplinary Research in Accounting and Finance (JIRAF), 10(3), 37–52. https://doi.org/10.5281/zenodo.8409842

Issue

Vol. 10 No. 3 (2023): July-September

Section

Original Peer Reviewed Articles
Copyright & Licensing

Copyright (c) 2023 Journal of Interdisciplinary Research in Accounting and Finance (JIRAF)

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

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