International Public Sector Accounting Standards Implementation Resources and Government Financial Reporting Quality: The Moderating Influence of Institutional Culture

Dr Kayode Ismaila Ashaju, Professor Ofuan James Ilaboya and Professor Alade Sule OMOYE Author-Workplace-NameDepartment of Accounting, Faculty of Management Sciences, University of Benin, Benin City, Nigeria
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Dr Kayode Ismaila Ashaju: Department of Finance, Federal Medical Centre (FMC) Owo, Ondo State, Nigeria.
Professor Ofuan James Ilaboya: (Professor of Accounting and Taxation) Director, University of Benin Consultancy Services Unit, University of Benin, Benin City, Nigeria

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 8, 1394-1411

Abstract: This study investigates the relationship between accrual-based IPSAS implementation resources and government financial reporting quality in Nigeria. The accrual-based IPSAS implementation resources examined include professionalism, information technology infrastructure, legal framework and stakeholder management while government financial reporting quality was captured using relevance, faithful representation, understandability, comparability and timeliness. A cross-sectional survey research design was adopted for this study using a questionnaire. A census of the entire population of the Accountant Generals and the Auditor Generals of the thirty-six states of the federation, amounting to a finite population of seventy-two people was taken. 67 copies of the questionnaire were retrieved out of which 66 copies were validly filled and usable for data analysis. Data collected through questionnaire administration were analyzed using descriptive statistics such as frequency distribution, mean and standard deviation. The ordinary least squares regression model was estimated to determine the impact of accrual-based IPSAS implementation resources on government financial reporting quality in Nigeria. The analyses were carried out with the aid of the Statistical Package for the Social Sciences (SPSS version 24) and Eviews 8.0 software. All hypotheses were tested at a 5% level of significance. The study found that professionalism, IT infrastructure, legal framework and stakeholder management significantly impact government financial reporting quality in Nigeria. Similarly, the study revealed that institutional culture does partially moderate the relationship between accrual IPSAS implementation resources and government financial reporting quality in Nigeria. The study recommends that comprehensive training and re-training of accountants, auditors and other relevant stakeholders responsible for the preparation of financial statements should be done to build the human capital stocks required for efficient operations.

Date: 2024
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