Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

196

IPSAS ADOPTION AND ACCOUNTABILITY IN ENUGU STATE

Ozoude Uchechukwu Rebecca* Msc, Dr P.V.C Okoye**

* Department of Accountancy Chukwuemeka Odumegwu Ojukwu University, Anambra State,

Nigeria.

** Department of Accountancy Chukwuemeka Odumegwu Ojukwu University, Anambra State,

Nigeria.

ABSTRACT

This study is on IPSAS Adoption and Accountability in Enugu State. A survey design method was

adopted. The study covered the audit and accounts staff of Enugu state Ministry of Commerce and

Industry and Enugu state Ministry of Finance and Economic Planning. Primary and secondary data

sources were used. Questionnaire was structured using 5 point Liker scale of strongly agree, agree,

undecided, strongly disagree and disagree. 119 questionnaires were shared to respondents. The

hypotheses formulated were tested with Chi square. The study found out that IPSAS adoption

significantly affect the relationship between IPSAS and timely release of accounts and the rate of

understandability of accounts records in Enugu state public sector. The study recommends thus;

IPSAS should be adopted in other states in compliance with federal government directives. Training

and retraining should be giving to operators of the system to keep them abreast of the reform. There

should be monitoring of the activities of IPSAS to ensure that all the conditions necessary to adoption

are met. More awareness should be created as some are reluctant to queue in.

Key words: IPSAS, Accountability, Public Sector, Enugu

INTRODUCTION

IPSAS means International Public Sector Accounting Standards. IPSAS are designed by International

Public Sector Accounting Standards Board (IPSASB) for preparation of financial statements by

public sector entities as directed by International Financial Reporting Standards (IFRS) issued by

International accounting standards board (IASB).

The Federal Executive Council (FEC), mandated all public sector entities in July, 2010, to adopt

IPSAS in the preparation of financial statements. This led to a sub- committee instituted by the Federal

Account Allocation Committee (FAAC) In June, 2011, to issue the guidelines for the implementation

of IPSAS in the federal, state and local governments (IPSAS Hand Book 2014).

The move to IPSAS is a quest for better accounting system in public sector entities. This will lead to

a clearer understanding of the financial statement, accountability and transparency. Adoption of

IPSAS will enable Nigeria to queue in to implementation of IPSAS as is trending in most countries

in the world making it possible for comparability of accounting information between countries of the

world. (NASB, 2011).

Before now, cash accounting has been the best model for presenting government activities but is prone

to easy manipulation, irregularities in treatment of transactions, misleading view of government

activities which led to loss of government funds. (Irvine, 2011; Izedonmi and Ibadin, 2013;

Adegoroye 2008; and Okpala, 2013).

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

197

Following these challenges of the traditional model of accounting, many writers have agreed that

public sector activities should not only be for offering services to the populace but that of corporate

governance. That is to say that people should have value for their money. (Morsen, 2008; Anessi-

Pessina and Steccolimi, 2007)

In other to purge loss of funds, inaccurate rendition of accounts, recklessness and improve good

governance in public sector triggered many financial reforms by most countries. Unfortunately, these

reforms failed to produce the required results as the citizens and regulators are calling for a clearer

and more accurate information in all areas of business especially in public service. Moreover, citizens

are eager to know what the government is doing with their money, thus, making the demand for open,

and clear and understandable financial information imperative.

As a result of this, many countries are adopting IPSAS to improve good governance and control as

practiced in the private sector. This stimulated the IPSASB to develop IPSAS which will enable

Standardized, understandable and comparable financial information across the globe (NASB, 2011).

Objectives of the Study

The specific objectives are

1. To ascertain the relationship between IPSAS and timely release of accounts in Enugu state

public sector.

2. Determine the relationship between IPSAS and the rate of understandability of accounts records

of Enugu state public sector.

1.5 Formulation of Hypotheses (Null)

HO1: IPSAS adoption does not significantly relate to timely release of accounts in Enugu state

public sector.

HO2: IPSAS adoption does not significantly relate to the rate of understandability of accounts

records of Enugu state public sector.

REVIEW OF RELATED LITERATURE

Conceptual Framework

Adoption of IPSAS in Nigeria

IPSAS is formed from initial letters of International Public Sector Accounting Standards. IPSAS are

accounting standards published by International Public Sector Accounting Standards Board

(IPSASB) in compliance with International Financial Reporting Standards (IFRS) produced by

International accounting standards board (IASB) as a standard in preparing the accounts of the public

sector.

IPSAS is adopted worldwide to bring about a qualitative reporting on the financial affairs of

ministries, departments and agencies (MDAs). It gives detailed information on the activities of the

ministries, departments and agencies thereby showing clearly the resources of the ministries,

department and agencies which will bring about healthier decision making hence increase

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

198

understandability and accountability. IPSAS are meant to be used by federal, state, local government,

agencies, boards and commissions. These standards are used by government owned enterprises

excluding government business enterprises.

The Federal Executive Council (FEC) of Nigeria mandated In July 2010, all government entities to

use IPSAS in preparing their accounts. To buttress this in June 2011, the Federal Account Allocation

Committee (FAAC) established a sub-committee to design the modus operandi for IPSAS

implementation in the federal, state and local government (IPSAS Hand Book, 2014).This is to

comply with international best practice (Otunla, 2012).

IPSAS and Timely Release of Accounts

Timely release of accounts information means that information is released on a good time for

interested parties to make useful decisions using accurate information. This means that the finance

department should do everything possible to close the accounts to release the financial statements as

fast as possible to enhance quality decision making to enable serious problems to be rectified.

(accountingtool.com).

IPSAS and Understandability

Understandability is making the financial report understandable to users.

Understandability entails making the information presented in financial reports to be concise,

complete and clear. The records should be in a way that will be easier for people to understand.

(accountingekplained.com).

Accountability

Accountability is making one to account for his her actions.it is making one answerable to the people

that one is working for.

Sinclair (1995) stated that the definition of accountability depends on the ideologies, motives and

languages of our times. He stressed that accountability has specific meanings, example "auditors see

accountability in financial aspect, political scientists see it in a political way and legal scholars as a

constitutional arrangement, and philosophers treat accountability as a subset of ethics".

Schlenker, Weigold and Doherty (1997) sees accountability as "being answerable to audiences for

performing up to prescribed standards that fulfils obligations, duties, expectations and other charges.

Blind (2011), classified accountability into Dichotomies; Prescriptive, Descriptive, and Operational

Dichotomy

Prescriptive Dichotomies: referring to the procedures, mechanisms and processes of working in an

organization and the attitudes and behaviour, perceptions and the mind-set of workers in an

organization (P. K Blind 2011).

Descriptive Dichotomy has: Market – Based against Administrative Accountability. This is saying

that citizens as consumers must be giving account of the services rendered to them ((Bartley 1999).

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

199

Administrative or Organizational Accountability: These are rules, regulations and norms that

mandates response to one’s superiors. (Smith 1992, p.97). It is a chain of command.

Political versus Legal/Judicial Accountability: In political accountability the executives are

accountable to the citizens while the public servants are accountable to the executives (O’Donnell

1994). Legal accountability does with established law which controls politicians and officials to act

within the confines of the law that establish them (World Bank 2004).

The third classification is Operational Dichotomy: This is saying that accountability, operates

through “horizontal” or “vertical” channels. Horizontal accountability is where public servants report

to their equals, and public administrators, report to the relevant ministers. Vertical Accountability

relate to the work of public pressure groups, press releases, media coverage, and public displays of

support or protest movements, interface meetings between citizens and public officials and petitions.

Theoretical Framework

This study anchored on Institutional theory and Agency Theory.

Institutional Theory: Institutional theory is a theory on social structure. It considers the processes in

which structures, like schemes, rules, norms, and routines, are established as guidelines for social

behaviour. Institutional Theory is Policy-making that adheres to the formal and legal aspects of

government structures and for organizations to survive, it must adhere to the rules and belief systems

of the environment (Kraft's Public Policy, 2007 and Scott 1995). Thus, the study is anchored on

institutional theory because these rules and structures built into the larger environment have direct

influence on public sector activities (Ali Najeeb, 2014.).

Agency Theory: Agency theory is the bridge that links management/workers and the owners/public.

Principal-agent theory is paramount when it comes to public sector accountability as it gave rise to

the institution of audit. An agency relationship comes in to play when one or more people called the

principal employs another person or persons to do a work or services on behalf of the principal. The

move from cash accounting to IPSAS is believed to provide broader information for decision making.

Agency theory is saying that information derived from financial statement using IPSAS can link the

principal (citizens) and the agent to make a better decision and have an efficient and productive

economy.

Empirical Review

Olayinka, Okoye, Modebe, and Olaoye (2016) examined the impact of IPSAS adoption on the quality

of financial reporting in the Nigerian public sector. Survey design method was used to collect data

using questionnaire. 164 respondents from the account departments of all public service in Lagos state

were used. Regression analysis was used and adjusted R2 for measuring the model specification. It

was found out that adoption of IPSAS has a significant impact on the quality of financial reporting in

the Nigerian public sector. This confirms the findings of Akbar, Rezwen and Ziyaldin (2015) and

Ijeoma (2014).

The study of Ibanichuka and James, (2014), on a critique on cash basis of accounting and budget

implementation in Nigeria. 130questionnaires were distributed to 130 public servants in Bayelsa,

Delta and Rivers States of Nigeria. Paired sample “t” test were used for analysis. It was shown that

accrual basis has a positive effect on budget implementation and fair presentation of the financial

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

200

position of a government. Adoption of IPSAS by all government ministries and extra-ministerial

departments in Nigeria was the researcher’s recommendation.

Olomiyete, (2014) accountability and financial reporting issues in Nigeria: considering a change from

cash accounting to accrual accounting. The argument was on adopting the pattern of accounting used

in private sector in the government sector to queue in to various government reforms. However, the

study did not rate IPSAS higher than cash. It showed the way IPSAS can make public sector

accounting reporting more effective.

Barton (2009), in conceding that IPSAS Accrual Accounting essential on efficiency, effectiveness

and accountability in the Australian public sector, the study opined that the reward of IPSAS accrual

accounting have been cancelled out by misuse of some accounting policies. The study however

contended that the mitigation of the benefits resulted largely from some questionable use of the

business model of Accrual Accounting and discontinuation of Cash Accounting System among

others.

Ijeoma (2014) revealed that IPSAS implementation will improve the quality of accountability and

financial reporting, facilitate efficient internal control and result based financial management, and

enhance service delivery more efficiently and effectively. The study was on the impact of

international public sector accounting standard (IPSAS) on reliability, credibility and integrity of

financial reporting in state government administration in Nigeria. The analytical tools used were the

Chi-square test, Kruskal Wallis test and descriptive analysis.

The study by Okaro, (2012) adopted survey research design to elicit the opinion of Auditors,

Accountants and Accounting Academics on the intention of the Nigerian government to adopt the

accrual system of accounting in its public sector. Questionnaire was used for collection of data and

hypotheses tested with ANOVA. It was discovered that he need to employ the right people at the

right position and preparing accounts at the right time received the highest positive response and they

attest that IPSAS accrual shall bring about improved accountability in the public sector.

Okpala, (2012) studied accountability in the Nigerian Public Sector. He drew his sample from

Ministry of Finance, Presidency, Ministry of Works, and National Assembly. Primary data was used.

Questionnaire was shared to 100 management staff of the above organizations at random. Pearson

Product Moment Correlation was used in analysing data. It was shown that accountability in Nigeria

is poor as a result of poor accounting infrastructure, poor regulatory framework and attitude of

government officials. The study revealed that measures like legislative committees, financial audit,

ministerial control, judicial reviews, anticorruption agencies, advisory committees, parliamentary

questions and public hearing to ensure accountability in the public sector as in developed countries

were adopted, but no visible result has been achieved.

Rozaidy, Raman, Rasid and Kaziemah (2014), investigated the issues and challenges faced by the

New Zealand, Australia and United Kingdom in implementing accrual accounting in the public sector.

They re-examined what was done in New Zealand, Australia and United Kingdom. It was discovered

that recognition and valuation of assets and liabilities, human competency and high cost of

implementation are some of the difficulties of the move to IPSAS implementation. The research did

not tell us how to tackle these difficulties.

Rossana, Adriana, Robert and Jorges (2013), investigated the perceptions of internal and external

users and preparers of accounting information in Brazilian public sector concerning a change to

IPSAS accrual based accounting system and the potential for such a system to provide informational

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

201

benefits to decision makers and managers of public entities. Exploratory survey was done using the

method proposed by Kober, Lee and Ng (2010). Their result revealed that IPSAS accrual basis

accounting can be developed to provide essential information for decision – making within

government agencies. Also that the adoption of IPSAS accrual accounting is not a compulsion from

international institutions.

Ali, (2008), studied the usefulness of IPSAS for management decision making in government

agencies and for the costing and pricing of goods and services and also to highlight any difference in

the extent of usefulness between government agencies. The research used interpretive case study

approach using qualitative methodology for data collection. The findings were that the move to

accrual accounting has been important in asset management, receivable management and in costing

and pricing health services.

Mutara (2016), reviewed the readiness and the problems arising from introduction of IPSAS accrual

accounting on local government unit. Result showed that 68.8% of the sample studied are

implementing {PSAS but there were problems.

Kalsom, Rozainun and Nurli (2014), in IPSAS Accrual accounting in government: Is fund accounting

still relevant? The research methodology was an in depth literature review and fact findings approach.

They found that to transit to IPSAS accrual in Malaysia fund accounting is necessary.

Ofoegbu (2014), in ascertaining the accounting experts’ perception in implementation of IPSAS

accrual to achieve accountability ,transparency and improve quality of accounting information in the

public sector discovered that adoption of IPSAS accrual increases accountability, transparency and

quality of financial reporting in the Nigerian public sector.

Glubio and Mattei (2012), in their study, Is there a specific accrual basis standard for the public

Sector? Theoretical analysis and harmonization of Italian government accounting opined that IPSAS

accrual basis of accounting contribute to the current harmonization of Italian government accounting.

Mohammad, Akram and Mozhgan (2016), worked on evaluation of the status of implementation of

IPSAS accrual accounting system stated that this has some infrastructural challenges like leadership

and management structure.

Ambe, (2015), in reforming public sector accounting and financial system: A critique of Cameroon

and Nigeria: assessed the government accounting and financial changes in Cameroon and Nigeria.

He discovered that there were worldwide agreement for accounting and financial reforms. The

methodology adopted was documentary research backed by interviews of senior government officials.

Bastani, Abolhalaj, Jelodar, and Ramezanian, (2012), looked into role of IPSAS accrual accounting

in report transparency and accountability promotion in Iranian public health sector opined that accrual

accounting is effective in report transparency, accountability promotion and determining total costs

and government sector actions.

Debates on accrual accounting in the public sector: A discrepancy between practitioners and

academicians by Marissa (2013), the study aimed at reviewing the argument on IPSAS stating the

various ideas from people either for or against. Examination of other works on IPSAS in the public

sector based on sources and opinions were adopted. The findings were that most sources from

practitioners opted for IPSAS while that of academicians did not support IPSAS. It means there is

discrepancy between academicians and practitioners in the public sector.

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

202

Nnoli Udeh (2015), investigated the implications of adoption of International Public Sector

Accounting Standards (IPSAS) on the quality of financial reporting of public sector organizations in

Nigeria. Primary source of data was employed. Chi-square test and Kruskal Wallis test were used. It

was discovered that adoption of IPSAS increase the level of reliance on the financial reporting of

public sector organizations in Nigeria. Again using IPSAS in public sector financial reporting brings

about comparability. Therefore, IPSAS offer better financial integrity assurance.

METHODOLOGY

A survey design method was employed.The study covered the audit and accounts staff of Enugu

state Ministry of Commerce and Industry, Enugu state Ministry of Finance and Economic Planning.

119 questionnaires derived with Taro Yamane formula were shared to auditors and accountants

employing the 5 point Liker scale of strongly agree (SA), agree (A), undecided (U), strongly disagree

(SD) and disagree (D).The hypotheses were tested with Chi square. The decision rule is If the

Asymptotic Sig is less than 0.05, we will not accept the null hypothesis if otherwise, we accept the

null hypothesis.

DATA PRESENTATION, ANALYSIS AND DISCSSION OF FINDINGS

Distribution and Return of Questionnaire

Respondent Number

Distributed

Number

Returned

Number

Unreturned

Rate of Return

Ministry of Commerce

and Industry

39 35 4 89%

Ministry of Finance

and Economic

Planning

80 70 10 87.5%

Total 119 105 14 88%

Source: Field Survey 2018

Above, the researcher distributed one hundred and nineteen (119) copies of questionnaires and 105

copies were returned being 88%.

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

203

Summary of Questionnaires employing five point likert’s scale

S/N QUESTIONS SA A UN SD D

IPSAS and Timely Release of Accounts

a. Accounts are prepared on time. 64 34 5 0 2

b. Financial reports are done regularly. 57 37 6 2 3

c. Information are pushed out daily for

users rather than the monthly scheduled

that is normally followed for releasing

financial statement.

55

33 5

8

4

d. Information on outstanding payments or

liabilities would be readily available for

evaluation and planning purposes.

47 43 6 2 7

e. Timely release of accounts has less time

in uncovering and correcting errors so

there is greater risk of releasing

inaccurate information.

21

28

10

33

13

Source: Field Survey, 2018

Summary of Questionnaires employing five point likert’s scale

S/N IPSAS and the rate of understandability SA A UN SD D

a. Accounts prepared with IPSAS are

concise.

53

17

9

22

4

b. Accounts prepared with IPSAS are

clear.

70

27

4

1

3

c. Accounts prepared with IPSAS are

complete.

69

25

6

1

4

d. Accounts prepared with IPSAS are

organized.

73

24 7

0

1

e. It allows users to evaluate the

government’s ongoing ability to finance

its activities and to meet its liabilities

and commitments.

73

22

6

0

4

Source: Field Survey, 2018

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

204

TEST OF HYPOTHESES

Chi Square Computation of Results

Hypothesis One

Ho1: IPSAS adoption will not significantly affect the relationship between IPSAS and timely release

of accounts in Enugu state public sector

Test Statistics

IPSAS adoption will not significantly affect the relationship between IPSAS

and timely release of accounts in Enugu state public sector

Chi-

Square(a)

96.181

Df 3

Asymp.

Sig.

.000

A 0 cells (.0%) have expected frequencies less than 5. The minimum expected cell frequency is 26.3.

The table showed that asymptotic sig. value is 0.000 which is less than 0.05, we therefore reject the

null hypothesis and assent to IPSAS adoption will significantly affect the relationship between IPSAS

and timely release of accounts in Enugu state public sector.

Hypothesis Two

Ho3: IPSAS adoption will not significantly affect the relationship between IPSAS and the rate of

understandability of accounts records of Enugu state public sector.

Test Statistics

A 0 cells (.0%) have expected frequencies less than 5. The minimum expected cell frequency is 21.0.

The table showed that asymptotic sig. value is 0.000 which is less than 0.05, we therefore reject the

null hypothesis and consent to IPSAS adoption will significantly affect the relationship between

IPSAS and the rate of understandability of accounts records of Enugu state public sector.

Discussion of findings

With the percentage (%) and Chi Square results IPSAS adoption significantly affect the relationship

between IPSAS and timely release of accounts in Enugu state public sector conforms to the highlights

IPSAS adoption will not significantly affect the relationship between IPSAS and the

rate of understandability of accounts records of Enugu state public sector

Chi-

Square(a)

164.286

Df 4

Asymp.

Sig.

.000

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

205

of Enugu State Government as one of the rewards of adopting IPSAS. This also agrees with Olayinka

et al (2016) that adoption of IPSAS will improve quality of financial reporting and value relevance.

IPSAS adoption significantly affect the relationship between IPSAS and the rate of understandability

of accounts records of Enugu state public sector as seen from the respondents conforming to Ofoegbu,

G. (2014) and Nnoli, F. (2015) who affirmed that transparency, quality of financial reporting and

understandability of public sector accounts will be improved by the adoption of IPSAS.

SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

The respondents opinion on adoption of IPSAS in Enugu state public sector were examined, it is

evidenced that majority opinion vouch for the adoption of IPSAS in Enugu state public sector as it

brings about timely release of accounts, increase rate of understanding of the accounts records and

easy to compare the accounts of Enugu state with others that have adopted IPSAS. Therefore, it is

good to employ IPSAS in other states in compliance with federal government directives. There should

be training and retraining. Monitoring and creation of more awareness to enable other states to queue

in.

REFERENCES

Adegoroye, G. (2008). Public Service Reform for Sustainable Development: The Nigeria Experience.

Keynote address delivered at the Commonwealth Advanced Seminar, Wellington, New

Zealand.

Ali, R. (2008). Accrual Accounting and Public Sector Reform: Northern Territory Experience.

Ambe A, N. (2015). Reforming Public Sector and Financial Systems: A critique of Cameroon and

Nigeria.

Anessi-Pessina, E. &Steccolimi, I. (2007). Effects of Budgetary and Accruals Accounting

Coexistence: Evidence from Italian Local Governments. Financial Accountability and

Management, 23 (2), 113 – 131.

Barret, P. (2006). Some Common Current Issues in Accountability. House of Representatives

Occasional Seminar Series, 20th September 2006, Parliament House, Canberra.

Bartley. R. (1999). "The New Public Management in Developing Countries: Implications for Policy

and Organizational Reform," in Journal of International Development 11(5), pp. 761-765.

Barton, A. (2009). The use and abuse of accounting in the public sector. Financial Management

Reform Program in Australia. Abacus, 45(2), pp.221-248.

Bastani, P., Abolhalaj, M., Jelodar, M., &Ramezanian, M. (2012).To investigate the role of accrual

accounting deployment in report transparency and accountability promotion in Mazandaran

University of medical services as one of the subset Units of Ministry of Health and medical

education and a sub system of the public sector.

Blind, K. (2011). Accountability in Public Service Delivery: A Multidisciplinary Review of the

Concept. Prepared for the Expert Group Meeting Engaging Citizens to Enhance Public Sector

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

206

Accountability and Prevent Corruption in the Delivery of Public Services Vienna, Austria 7-

8 and 11-13 July 2011

Boncondin E. T. (2007). Citizen Engagement in Budgeting and Republic Accountability Paper

presented at the 6th Session of the United Nations Committee of Expert on Public

Administration, United Nations HQs, New York, and 10-14 April.

Giubio, G., &Mattei, G. (2012). Is There a Specific Accrual Basis Standard for the Public Sector?

Theoretical Analysis and Harmonization of Italian Government Accounting.

Hepworth, N. (2011). Introductory Accrual Accounting in the Public Sector: Some introductory

Remarks, U.K., Chattered Institute of Public Finance and Accountancy (CIPFA).

Ibanuchuka, E., & James, O. (2014). A critique of Cash Based Accounting and Budget

Implementation in Nigeria. European Journal of Accounting, Auditing and Finance Research,

2 (3), 69 –83.

IFAC (2000). Government Financial Reporting, Accounting Issues and Practice.

IFAC, (2002). Transition to the Accrual Basis of Accounting: Guidance for Governments and

Government entities. Public Sector Study 14. New York: Public Sector Committee.

Ijeoma, N. B. (2014). The Impact of IPSAS on the Reliability, Credibility and Integrity of Financial

Reporting in State Government Administration in Nigeria. International Journal of

Technology Enhancements and Emerging Engineering research, VOL 2, ISSUE 3 1 ISSN

2347-4289 Copyright © 2014 IJTEEE.

IPSAS Hand Book (2014). Adoption of IPSAS in Nigeria What You Need to Know.

Irvine, H. (2011). From go to woe: How a not-for-profit managed the change to Accrual Accounting.

Accounting, Auditing & Accountability Journal, 24, 824 -847.

Izedonmi, F., &Ibadin, P. (2013). International Public Sector Accounting Framework, Regulatory

Agencies and Standard Setting Procedures: A critique. European Journal of Business

Management, 5 (6), 17 - 24.

Kalsom, S., Rozainum, A., &Nurli, A. (2014). Accrual Accounting in Government: Is Fund

Accountings Still Relevant? Social and Behavioural Sciences 164 (2014) 172 – 179

Kraft's Public Policy (2007). A Practical Guide for Policy Analysis.

Marissa, M. (2013). Debates on Accrual Accounting in the Public Sector: A Discrepancy between

Practitioners and Academicians.

Mohammad, H., Akram, K., & Mozhgan, E. (2016). Implementation Status of Accrual Accounting

System in Health Sector.

Morsen, N. (2008). Governmental Accounting in Norway: A Discussion with Implications for

International Development. Financial Accountability and Management, 24 (2), 151 – 167.

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

207

Mutara, M. (2016). Implementation of Accrual Accounting, Review of Readiness and Arising

Problems. Article in Procedia- Social and Behavioural Sciences 219; 480-485 May 2016.

Najeeb, A. (2014). Institutional theory and human resource management. In H. Hasan (Eds.), Being

Practical with Theory: A Window into Business Research (pp. 25-30). Wollongong, Australia:

THEORI. P-25-30-institutional-theory-theori- ebook_finaljan2014-v3.pdf

NASB (2011). Report of the Committee on Road Map to the Adoption of International Financial

Reporting Standards in Nigeria.

Nnoli, F. (2015). Adoption of IPSAS and the Quality of Public Sector Financial Reporting in Nigeria.

Research Journal of Finance and Accounting www.iiste.org ISSN 2222-1697 (Paper) ISSN

2222-2847 (Online) Vol.6, No.20, 2015

O’ Donell, (1998). Horizontal Accountability in New Democracy, Journal of Democracy 9(3): 112-

126.

Ofoegbu, G. (2014). New Public Management and Accrual Accounting Basis for Transparency and

Accountability in the Nigerian Public Sector. IOSR Journal of Business and Management

(IOSR-JBM) e-ISSN: 2278-487X, p-ISSN: 2319-7668. Volume 16, Issue 7. Ver. III (July.

2014), PP 104-113 www.iosrjournals.org

Okaro, S. (2012). The Introduction of Accrual Accounting in the Public Sector of Nigeria - The

Perception of Auditors, Preparers of Financial Statements and Accounting Academics. SSRN

ELECTRONIC JOURNAL · APRIL 2012. DOI: 10.2139/ssrn.2042234.

Okpala, K. (2013). Public Accounts Committee and Oversight Functions in Nigeria: A Tower Built

on Sinking Sand. International Journal of Business and Management, 8 (13), 111 – 117.

Okpala, K. (2012). Fiscal Accountability Dilemma in Nigeria Public Sector: A Warning Model for

Economic Retrogression. Research Journal of Finance and Accounting ISSN 2222-1697

(Paper) ISSN 2222-2847 (Online) 3(6), 2012www.iiste.org

Olayinka, E., Okoye, L., Modebe, N., & Ogundele, O. (2016). International Public Sector Accounting

Standards (IPSAS) Adoption and Quality of Financial Reporting in the Nigerian Public

Sector. ESUT Journal of Accountancy, Vol. 7, No 2, July-Dec., 2016

Olomiyete, I. (2014). Accountability and Financial Reporting Issues in Nigeria: Considering a Change

from Cash Accounting to Accrual Accounting, International journal of management sciences

and humanities 2(1) March, 2014.

Otunla, J. (2012). Federal Government Sets December Deadline for IPSAS Adoption, Retrieved from

http://www.thisdaylive.com.

Rossana, G., Adriana, F., Robbert, L., & Jorge, K., (2013). Accrual Basis Accounting in the Brazilian

Public Sector: Empirical Research on the Usefulness of Accounting Information.

Rozaidy, M., Raman, N., Rasid, M., &Kaziemah, S. (2014).Malaysian Journal of Business and

Economics Vol. 1, No. 2, 63 – 76.

Journal of accounting, business and social sciences Volume 2 number 1 August 2019 ISSN 2672-4235 (JABSS)

208

Salman, A., Nathan, M., & Teri, L. (2014). The Investment Perspective of Accruals: Do theories of

Investment under Uncertainty Provide Insight into the Factors that Shape a Firm’s level of

Accruals? Sector Accounting? Public Fund Digest, Vol. VI, No. 1.

Schlenker, B. F., Weigold, M. F., & Doherty, K. (1997). Coping with Accountability: Self

Identification and Evaluative Reckonings. In C. R. Snyder & D. R. Forsyth (Eds.), Handbook

of Social and Clinical Psychology (p. 96-115). New York: Pergamum.

Scott, W. R. (1995). Institutions and Organizations. Thousand Oaks, CA: Sage.

Sinclair, A. (1995). The Chameleon of Accountability Forms and Discourses. Accounting,

Organizations and Society, 20: 219-237.

Smith, T. (1992). Clear Books Blog | Accounting Blog Covering Small Business and Accountants.

United Nations Economic Commission for Africa (2003).

World Bank (2004). Social Accountability: An Introduction to the Concept and Emerging Practice

(English). Social Development papers; no. 76.