THE DETERMINANTS OF THE ADOPTION OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS IN LAGOS STATE

Ifeoluwapo Adebimpe Salami () and Rafiu Oyesola Salawu ()
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Ifeoluwapo Adebimpe Salami: Bowen University, Iwo, Postal: Department of Accounting, ,, https://journal.citn.org/
Rafiu Oyesola Salawu: Obafemi Awolowo University, Ile-Ife, Postal: Department of Management and Accounting,, https://journal.citn.org/

Journal of Taxation and Economic Development, 2019, vol. 18, issue 1, 110-121

Abstract: The study examined the determinants of the adoption of International Public Sector Accounting Standards (IPSASs) in Lagos State. The study employed primary data. The population consisted of all the public sector accountants and auditors working with Lagos State Government. The sample size selected was 300 using stratified random sampling technique. Data were collected with the aid of structured questionnaire. A total of 291 copies of questionnaire were retrieved from the respondents. Data were analyzed using ordinal logistic regression technique. The study revealed that acceptable in cash accounting based system (CABS), adequate multidimensional reporting requirement (MDRR), awareness on the transition of IPSASs (AOT), commitment of central entities and key officials (CCEK), effective project management structure for IPSASs (EPMS), budget for additional human resources (BAHR), adequate technology capacity and information system (TCIS), regular update of the governing bodies on the progress made in the implementation of IPSASs (UGBP), interim financial statement (IFSR), continuous testing of internal controls (CTIC) and prevention of corrupt practice (PCP) are the major determinants of adoption of IPSASs. An increase in this will raise the likelihood of the occurrence of higher level of adoption of IPSASs. The study recommends that each State should put into consideration the identified determinants in order to enhance the implementation of IPSAS.

Keywords: Determinants; Adoption; Standards; IPSAS; Public Sector (search for similar items in EconPapers)
Date: 2019
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