Impact of Accounting System on Public Expenditure Control in Nigeria

Abstract

The study aims to examine the impact of accounting system on public expenditure control in Nigeria. Public expenditure is spending made by the government of a country on collective needs such as provision of infrastructure, pension, and other developmental needs of the country. The Public expenditure here refers to Government expenditures, and government expenditures in Nigeria like most other countries include capital and recurrent expenditures. The main objective of this study is to find out how government accounting system helps to control and regulate public expenditure in Nigeria and also to find out the extent to which the treasury department serves as a custodian of all other public expenditure. The primary source of data collection that was used is gathering data from respondents. Due to the findings, it was discovered that actual expenditure does not always conform to budgeted expenditure and it was found that no limit is exercised over public expenditure by the control. The study concludes that accountant tries as much as possible to keep expenditure which has been decided and planned within the limit set by management and the limits of available funds. Major recommendations I have pointed out includes but not limited to the suggestion that the country should introduce more of the electronic means in curbing and reducing the human factor and tendencies for fraud and error like the Integrated Payroll and Personnel information system (IPPIS), Treasury Single Accounts and others and make them very effective. It was also recommended that professional accountants should be employed to head the accounts department thus, he will help improve on the system of accounting control over public expenditure already in operation. Government and other public institution should instill good accounting and internal control system to check embezzlement of project funds. Adequate government budget can regulate public expenditure, and an efficient and effective accounting system can ensure transparency and accountability during public expenditure execution.