ACCOUNTING FOR INVESTMENT PORTFOLIOS IN FIDUCIARY ACCOUNTING
This study aims to (1) evaluate the methods used by fiduciary accountants in managing investment portfolios, (2) assess the accuracy and transparency of these methods, and (3) identify challenges in portfolio accounting. A survey design was selected for its ability to gather detailed information from a broad range of professionals. Using Taro Yamane's formula, a sample size of 115 fiduciary accountants was determined from a population of 190 in Lagos. A prominent investment firm in Lagos served as the case study to provide specific insights. The reliability coefficient score of the survey instrument was 0.87, indicating high reliability. Findings revealed that while fiduciary accountants use a variety of methods to manage investment portfolios, there are significant challenges related to valuation accuracy and transparency. The study recommends the implementation of standardized accounting practices and ongoing training to improve portfolio management.
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