Browsing by Author "SURAJU Adeniyi Adebayo"

Now showing 1 - 1 of 1
  • No Thumbnail Available
    Item
    Open Access
    International public sector accounting standards (ipsass) and financial reporting quality of ministries, departments and agencies (mdas) in Osun State, Nigeria.
    (Department of Management and Accounting, faculty of administration, Obafemi Awolowo University., 2021) SURAJU Adeniyi Adebayo
    This study assessed the quality of financial report of Osun State Ministries, Departments and Agencies (MDAs) before and after the adoption of International Public Accounting Standards (IPSAS) accrual. It also analysed the measures put in place by the MDAs to mitigate the potential problems associated with the conversion to IPSAS accrual accounting basis. Finally, it examined the effect of IPSAS accrual based accounting principles on the financial reporting quality of the MDAs. This were with a view to providing information on the effect of adoption IPSAS accrual basis of accounting on the quality of financial reports of the MDAs in Osun State. The study adopted a descriptive survey research design using primary data. Proportionate sampling technique was used to draw 51% sample from a population of 150 International Public Accounting Standards (77), 120 Auditors (62) and 110 Budget Officers (56), making a total of 195 respondents from across the Ministries, Departments and Agencies (MDAs) in Osun State. The elements of financial reporting qualities (relevance, faithful representation, understandability, comparability and timeliness) were employed to examine the pre and post adoption of International Public Accounting Standards (IPSAS). The questionnaire was sectionalised to elicit information on the specific objectives. The data were analysed using percentages, frequency, means, t-test statistics and Z-test statistics. The results showed that financial reporting quality on post-IPSAS adoption period was better than the pre-IPSAS adoption period (t = 3.902, p < 0.05). The result also showed that operational measures (in the form of strict compliance) of IPSAS implementation with budget 95%), administrative measures (in the form of adequate personnel, 95%), and financial measures (in the form of consistent bank reconciliation, 74%), were the measures put in place to mitigate problems associated with IPSAS conversion. Finally, the result also showed that IPSAS accrual accounting had a positive and significant effect on financial reporting quality (t = 3.025, p < 0.05) of MDAs in Osun State. The study concluded that the adoption of IPSAS has notably improved the quality of financial reports of MDAs in Osun State.