THE ROLE OF FINANCIAL CONTROL IN THE PUBLIC SECTOR
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
ABSTRACT
The primary concern here is to identify to what extent good accounting system in the Public Sector can ensure Financial Control and Accountability in the Public sector Financial or is a critical factor in management and therefore must be prudently handled and accounted for if the public sector is to realize its goals and objectives. It is on this account that this research work has been undertaken to try and unravel the reasons why government ministries and department most times finds it difficult to control and properly account for finances available to them. Subsequently, a number of reasons have been deduced as being responsible for poor financial control and accountability. They include; Poor implementation of financial regulations, lack of effective internal control system, inadequate reward system and sharp practices by public servants. The Abia State Ministry of Finance was used as case study, and information was sourced through sampled population in the Ministry by means of questionnaire. Data was collected, analyzed and interpreted using tables and chi-square. Findings showed that unless financial regulations are strictly followed and defaulters punished accordingly, financial control and accountably may still elude the public sector.
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