Department of Management & Accounting

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Browsing Department of Management & Accounting by Subject "Accountability"

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    Public Sector Accounting Practices and Effectiveness of Accountability in Oyo State Internal Revenue Board
    (Lead City University, Ibadan, 2024-12) Akeem Adewale ABOTINDE
    Nigeria's public sector has been hit by a series of setbacks, owing in part to a lack of accountability in government processes. This study investigates Public Sector Accounting practices and effectiveness of Accountability within the Oyo State Internal Revenue Board. The study guided by institutional and agency theories. Employed a descriptive survey method, data was collected from 2850 staff members across various governmental bodies. The sample size of 351 was determined using Taro Yamani's Statistical Formula, with a stratified random sampling technique employed. A survey questionnaire was developed to address research questions, with reliability assessed using Cronbach's Alpha (target coefficient: 0.72). Data analysis involved descriptive statistics that is simple percentage, along with inferential statistics including multiple regression analysis at a significance level of 0.5. The findings demonstrate significant results across all objectives. In Objective One, the model elucidates that 41.4% of the variance in corporate governance is explained, with Oversight functions, Quality of audit, and Application of IPSAS identified as crucial predictors. Transitioning to Objective Two, the model captures 12.2% of the variance in resource allocation, while in Objective Three, it accounts for 13.0% of the variance in populace welfare. Overall, ANOVA outcomes confirm the substantial influence of public accounting practices on accountability for information disclosure, financial responsibility, and service delivery, all statistically significant (p < 0.05). Oversight functions and Quality of audit positively impact corporate governance and resource allocation. The study highlights the substantial influence of public sector accounting on governance, resource allocation, and citizen welfare. Surprisingly, while better audit quality improves governance and resource allocation, both audit quality and IPSAS compliance show unexpected negative impacts on citizen well-being. This suggests a potential trade-off between financial accountability and service delivery priorities. Recommendations include bolstering audits, ensuring IPSAS compliance, strengthening oversight, fostering research, and monitoring progress to enhance public sector accountability and performance. Keywords: Public Sector Accounting Practices, Accountability, Information Disclosure, Financial Responsibility, Service Delivery. Word Count: 300