The Impact of International Public Sector Accounting Standards (IPSAS) Adoption on Financial Reporting Quality in the Public Sector

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The Impact of International Public Sector Accounting Standards (IPSAS) Adoption on Financial Reporting Quality in the Public Sector

Ojeh, Nwode Offor1 & Eze, Regina Chekwubechi PhD2
1Federal College of Education Technical Isu, Ebonyi State, Nigeria
2Federal Polytechnic Ohodo, Enugu, Nigeria

Citations – APA

Ojeh, N. O. & Eze, R. C. (2023). The Impact of International Public Sector Accounting Standards (IPSAS) Adoption on Financial Reporting Quality in the Public Sector. Global Journal of Auditing and Finance, 5(1), 14-27. DOI: https://doi.org/10.5281/zenodo.10033595
This research investigates the impact of International Public Sector Accounting Standards (IPSAS) adoption on financial reporting quality in the Nigerian public sector. The study aims to examine the perceptions and experiences of Nigerian government officials, accountants, auditors, and financial reporting experts regarding the impact of IPSAS adoption on financial reporting quality. Additionally, it analyzes the changes in financial reporting practices and compliance with IPSAS in the Nigerian public sector following its adoption. The research employs a mixed-method approach, utilizing both simple percentages and chi-square analysis for data analysis. The study addresses two hypotheses. Hypothesis 1 posits that the adoption of IPSAS in Nigeria does not positively and significantly influence the perceived financial reporting quality in the Nigerian public sector. Hypothesis 2 suggests that the level of compliance with IPSAS in the Nigerian public sector is not positively and significantly correlated with the improvement in financial reporting quality. The findings of the research indicates that the adoption of IPSAS in Nigeria indeed has a positive and significant impact on the perceived financial reporting quality in the Nigerian public sector. Furthermore, the study rejected the null Hypothesis 2, demonstrating a positive and significant correlation between the level of compliance with IPSAS and the improvement in financial reporting quality. These findings contribute to the existing body of knowledge by providing empirical evidence on the impact of IPSAS adoption on financial reporting quality in the Nigerian public sector. The research highlights the importance of adopting IPSAS and complying with its standards to enhance financial reporting practices. It offers valuable insights for policymakers, practitioners, and researchers interested in improving financial reporting quality in the public sector.ABSTRACT
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Keywords: Financial Reporting Quality; International Public Sector Accounting Standards

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