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International Public Sector Accounting Standards (IPSAS) Adoption and Implementation in Nigerian Public Sector

Author

Listed:
  • Ademola Abimbola O.
  • Ben-Caleb E.
  • Madugba Joseph U.
  • Adegboyegun Adekunle E.
  • Eluyela Damilola F.

Abstract

This study evaluated the relationship between IPSAS adoption and financial reporting quality in South West, Nigeria. Specifically, it analysed the effect of IPSAS adoption on credibility and comparability of financial statements. Additionally; salient factors influencing IPSAS implementation were investigated. Primary data collected from one hundred and eighty accountants in South West Nigeria were analysed using tabulation, graphs, factor analysis, and Goodman and Kruskal¡¯s gamma statistics. The empirical results indicated that IPSAS adoption exerted significant and positive relationships with financial reporting quality, credibility and comparability of financial statements. Decisively, discoveries from this study reflect that implementation cost, staff training, technological factor, IPSAS knowledge and awareness and availability of expertise significantly affect IPSAS implementation. However, findings further revealed that IPSAS implementation is not significantly influenced by institutional commitment, cultural, sociological, legal, political and environmental factors. Based on these findings, the authors recommend that considerable amount of money should be set aside for full adoption and implementation of IPSAS in Nigeria.

Suggested Citation

  • Ademola Abimbola O. & Ben-Caleb E. & Madugba Joseph U. & Adegboyegun Adekunle E. & Eluyela Damilola F., 2020. "International Public Sector Accounting Standards (IPSAS) Adoption and Implementation in Nigerian Public Sector," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(1), pages 434-446, January.
    • Handle: RePEc:jfr:ijfr11:v:11:y:2020:i:1:p:434-446
    DOI: 10.5430/ijfr.v11n1p434
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    References listed on IDEAS

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    2. R. Edward Freeman & Andrew C. Wicks & Bidhan Parmar, 2004. "Stakeholder Theory and “The Corporate Objective Revisited”," Organization Science, INFORMS, vol. 15(3), pages 364-369, June.
    3. Andreas Bergmann, 2012. "The influence of the nature of government accounting and reporting in decision-making: evidence from Switzerland," Public Money & Management, Taylor & Francis Journals, vol. 32(1), pages 15-20, January.
    4. J. Christiaens & C. Vanhee & F. Manes-Rossi & N. Aversano, 2013. "The Effect of IPSAS on Reforming Governmental Financial Reporting: an International Comparison," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 13/845, Ghent University, Faculty of Economics and Business Administration.
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