Measure of the Impact of Financial Reporting and Accountability on the Public Sector in Nigeria

Usman Momoh Sani, *Julius Akor Omatola and Felix Enejo Akor

Department of Mathematics and Statistics, Kogi State Polytechnic, Lokoja, Nigeria.

*Corresponding Author’s Contact Detail: E-mail Address ✉: omatolajulius@yahoo.com

Accepted July 23, 2020

Financial reporting is one of the best indices of accountability, effective financial reporting practices are important to Kogi State public sector being in a position to make policy and deliver services to the citizenry. However, accountability and transparency in Nigeria leave a lot of room for improvement. This study aimed to analyse the effects of financial reporting and accountability to the public sector in Kogi State. Data collected were analysed with the help of Statistical software NCSS version 2008. A Cronbach’s Alpha of .957 was realized which shows that the instruments used to collect data were reliable. The result of regression analysis, R= .882 informs us there is a moderate –to-strong association. On review of the output found in the ANOVA, we find that the overall equation was statistically significant (F = 31.375, P<.000) the coefficients sought to make out which predictors are noteworthy contributors to the 77.7% of elucidated difference in Y (r²= .777) and which ones are not, and in what methods do the important ones help us to give explanatory, of Y. From this equation, budgeting was established to be the lone independent variable with a significance consequence on quality of annual accounts (B= .557, P<.000) while each other variables were come into the regression equation. It was established that the better the quality of annual accounts. Financial statements preparation, appropriation and auditing did not attain the basic measure to extensively influence quality of annual accounts, so they had no noteworthy role at this point of the investigation.

Key words: ANOVA, Regression, Appropriation, F-Statistic, Content Analysis.

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