EXTENT OF IPSASS IMPLEMENTATION AND QUALITY OF FINANCIAL REPORTING IN MINISTRIES, DEPARTMENTS AND AGENCIES (MDAS): AN EMPIRICAL INVESTIGATION FROM A DEVELOPING COUNTRY
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Date
2023
Journal Title
Journal ISSN
Volume Title
Publisher
Fuoye Journal of Accounting and Management
Abstract
This study investigated the extent of international public sector accounting standards (IPSASs)
implementation and the financial reporting quality of Ministries, Departments and Agencies (MDAs) in
Ondo State in the South-Western Nigeria. The population of the study comprises the two hundred and sixtyeight (268) Accountants and Internal Auditor of MDAs in Ondo state as obtained from the Ondo state
Accountant general’s office. Sample size of two hundred (200) respondents, consisting of the professional
accountants using purposive sampling method. Primary data collated from four-point Likerttype scale
questionnaire was analyzed through descriptive statistics which include frequency distribution table, mean
and standard deviation. The hypothesis was tested using the simple linear regression estimation method.
Findings from the analysis showed that there is partial implementation of IPSASs by Ministries, Department
and Agencies (MDAs) in the State. The finding indicated that few IPSASs were yet to be fully implemented.
The analysis from the study indicated that the level of the IPSASs implementation so far is reasonably
positive and significant on the financial reporting quality of the MDAs. The study recommends that
personnel involved in the preparation and reporting of financial statement should be trained on how to
effectively implement IPSASs in compliance with the trend in IFAC financial reporting convergence policy.
Description
Keywords
IPSASs, Implementation, Financial Reporting Quality, MDAs, Reliability, Accountability
Citation
Ogbeide S.O,Ogunmakin A.A & ArijeniwaO,J.(2023) Extent of IPSASs Implementation and Quality of Financial Reporting in Ministries, Departments and Agencies (MDAs): An Empirical Investigation from a Developing Country. Fuoye Journal of Accounting and Management 6(1)1-12