Quality
financial reporting plays an important role in government accountability and
meeting its financial management responsibilities to its citizens. The
implementation of IPSAS was an integral part of public sector reforms and based
on a global trend to respond to requests for increased financial accountability
and transparency from government which reflect significant democratic
values.This research focused on issues and benefits of implementing IPSAS on
the consistency of financial reports by evaluating theoretical and past
empirical studies in meeting the requirements for utility of decision. The
IPSAS adoption review showed that international best practices were presented
to government agencies, international intergovernmental organizations and
international organisations. It stressed the advantages of good governance,
accountability and transparency. Further analysis highlights Nigeria's problems
during the time focusing on openness, accountability, comparability, and
management and decision-making processes. The study concluded that Nigeria's
IPSAS adoption driving forces were to align its operations with the financial
year, meet the requirements of partners, attract donors and be competitively
comparable with other international organizations.
Please read
full article – https://www.ikprress.org/index.php/JGEMBR/article/view/5284
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