The impact of managerial accounting practices on corporate governance in Nigerian banks: A study of Polaris Bank
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Background of the Study
Corporate governance refers to the systems, processes, and practices through which companies are directed and controlled. Effective corporate governance ensures that a company operates in a transparent, accountable, and ethical manner, which is crucial for maintaining investor confidence and regulatory compliance (Ajibola & Akinmoladun, 2023). Managerial accounting plays a critical role in supporting corporate governance by providing accurate financial information, performance metrics, and cost management strategies that guide decision-making and risk management. In Nigerian banks, where financial integrity is vital for stability, managerial accounting practices such as budgeting, financial reporting, and internal controls contribute to effective governance. Polaris Bank, a leading commercial bank in Nigeria, utilizes managerial accounting to enhance financial management and support governance processes. This study will examine how managerial accounting practices influence corporate governance at Polaris Bank and assess their impact on the bank’s financial stability, regulatory compliance, and ethical practices.
Statement of the Problem
While managerial accounting practices are known to contribute to effective decision-making and financial management, their impact on corporate governance in Nigerian banks, especially Polaris Bank, is under-researched. The study aims to assess how these practices support governance structures and enhance accountability and transparency within the bank.
Objectives of the Study
- To assess the role of managerial accounting practices in corporate governance at Polaris Bank.
- To examine the relationship between managerial accounting practices and the effectiveness of corporate governance in Polaris Bank.
- To recommend strategies for improving the integration of managerial accounting practices into corporate governance at Polaris Bank.
Research Questions
- How do managerial accounting practices influence corporate governance at Polaris Bank?
- What is the relationship between managerial accounting practices and the bank’s financial stability and compliance with regulations?
- How can Polaris Bank improve its governance framework by enhancing the role of managerial accounting practices?
Research Hypotheses
- Managerial accounting practices positively influence corporate governance at Polaris Bank.
- The implementation of managerial accounting practices enhances financial stability and regulatory compliance at Polaris Bank.
- Improving managerial accounting practices will strengthen corporate governance and ethical practices at Polaris Bank.
Scope and Limitations of the Study
This study will focus on Polaris Bank and evaluate the role of managerial accounting in corporate governance. Data will be collected from financial reports, governance documents, and interviews with management and employees. Limitations may include access to confidential financial data and potential bias in self-reported governance practices.
Definitions of Terms
- Corporate Governance: The system by which companies are directed and controlled, focusing on transparency, accountability, and ethical conduct.
- Managerial Accounting: The use of accounting information for internal decision-making, including budgeting, cost management, and performance analysis.
- Financial Stability: The ability of a bank to maintain solvency and liquidity while managing risks and meeting regulatory requirements.
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