Zibaghafa, Sunday and Okpolosa, Mathew (2024) International Public Sector Accounting Standards Adoption and Challenges of Implementation in Nigeria. European Journal of Accounting, Auditing and Finance Research, 12 (1). pp. 108-125. ISSN 2053-4086(Print), 2053-4094(Online)
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Abstract
This study examined International Public Sector Accounting Standards (IPSAS) adoption and challenges of implementation in Nigeria. The study employed review of literature of prior studies using institutional theory as the anchor. The review of prior studies revealed that the adoption of International Public Sector Accounting Standards (IPSAS) in Nigeria is faced with several challenges such as political-will towards full IPSAS implementation; statutory adjustment, inadequate funding and institutional commitment, poor IT infrastructure, change management issues amongst others. The study recommended amongst others that professional accountancy organisations such as the Institute of Chartered Accountants of Nigeria (ICAN) and Association of National Accountants of Nigeria (ANAN) should consider what rolethey can play in growing consciousness of the need for transparent financial reporting in the public sector entities, including but going beyond providing training on accounting standards. Also governments should introduce plans for smooth and quick migration to full accrual-based IPSAS in all public sector entities in Nigeria so as to maximize the perceived benefits associated with accrual basis of IPSAS.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Depositing User: | Professor Mark T. Owen |
| Date Deposited: | 15 Jan 2024 09:49 |
| Last Modified: | 15 Jan 2024 09:49 |
| URI: | https://tudr.org/id/eprint/2546 |
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