An Evaluation of Public Sector Accounting Reforms and Financial Transparency: Evidence from Federal Government Ministries
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Background of the Study
Public sector accounting reforms play a critical role in enhancing financial transparency, accountability, and resource management in government institutions. In Nigeria, these reforms include the adoption of International Public Sector Accounting Standards (IPSAS), implementation of the Treasury Single Account (TSA), and the Integrated Payroll and Personnel Information System (IPPIS) (OECD, 2024).
Federal government ministries, as key players in implementing these reforms, are tasked with ensuring that public funds are managed efficiently and transparently. However, despite the reforms, cases of financial irregularities and corruption persist, raising concerns about their effectiveness in achieving financial transparency.
This study evaluates the impact of public sector accounting reforms on financial transparency in Nigeria’s federal ministries, providing insights into the progress and challenges of reform implementation.
Statement of the Problem
While public sector accounting reforms have been introduced to promote transparency, their implementation has faced several challenges, including resistance to change, inadequate training, and technical limitations. These issues undermine the effectiveness of reforms in curbing financial mismanagement and promoting accountability.
Existing studies often examine public sector reforms in isolation without exploring their collective impact on financial transparency in federal government ministries. This study seeks to bridge this gap by evaluating how reforms such as IPSAS, TSA, and IPPIS influence transparency.
Objectives of the Study
- To assess the impact of public sector accounting reforms on financial transparency in federal ministries.
- To evaluate the effectiveness of IPSAS, TSA, and IPPIS in promoting accountability.
- To identify challenges hindering the successful implementation of these reforms.
Research Questions
- How do public sector accounting reforms influence financial transparency in federal ministries?
- What is the effectiveness of IPSAS, TSA, and IPPIS in promoting accountability?
- What challenges hinder the successful implementation of these reforms?
Research Hypotheses
- Public sector accounting reforms do not significantly influence financial transparency in federal ministries.
- IPSAS, TSA, and IPPIS are not effective in promoting accountability.
- Challenges such as resistance to change do not significantly affect the implementation of accounting reforms.
Scope and Limitations of the Study
The study focuses on public sector accounting reforms in Nigeria’s federal ministries, evaluating their impact on financial transparency from 2015 to 2025. Limitations include reliance on secondary data and potential biases in reform implementation reports.
Definitions of Terms
- Public Sector Accounting Reforms: Changes to financial management practices aimed at improving accountability and transparency in government institutions.
- Financial Transparency: The openness and clarity in the reporting of financial information to stakeholders.
IPSAS: International Public Sector Accounting Standards, a framework for financial reporting in the public sector.
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