IMPLICATIONS OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS ADOPTION AND FINANCIAL REPORT QUALITY IN LAGOS STATE

Abstract

The Poor quality of Financial Report in Nigeria can be attributed to inherent inadequacies present in the Accounting systems. This paperaimed to evaluate the adoption of International Public Sector Accounting Standards (IPSASs) as well as the financial report quality in Lagos State. The paper employed primary source of data, while thepopulation consisted of all the public sector workers in Lagos State. The sample size was 300 comprising public sector accountants and auditors using stratified random sampling technique. Data were collected with the aid of questionnaires. A total of 291 copies of questionnaire were retrieved from the respondents. Data were analyzed using paired sampled T-test. The paper revealed that the adoption of IPSASs has a significant influence on financial report quality (t = -28.787, p = 0.000) andconcluded that the adoption of IPSASs influenced financial report quality in Lagos State.