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Public Sector Auditing and Integrity of Government Financial Reporting in Nigeria
(Department of Public Administration, Nasarawa State University Keffi, 2019-11-20) Tiamiyu, Mariam Abosede
It is in the public domain that public entities are poorly managed, directed and governed in view of the magnitude of wastage, extravagance and high level of corruption which have permeated the system. This perception has undermined the reliability and integrity of financial reporting in Nigeria. Therefore, this study examined public sector auditing and integrity of government financial reporting in Nigeria with a view to allaying the fear of public mistrust, real or imagined and to enhance public confidence on public financial management. The data for this study was elicited from a primary source using a structured questionnaire. Analysis of Variance (ANOVA) with the aid of the SPSS was used to analyze the data. The findings revealed that International Public Sector Accounting Standards (IPSASs) adoption has improved the quality of financial reporting in Nigeria; reforms initiated by the government in public sectors have promoted accountability and transparency of public resources; the perception of members of the public on public entities reporting quality has improved and less suspicious and IPSASs takes into cognizance value for money audit (VFM) in public sector financial recording.