INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS) ADOPTION AND QUALITY OF FINANCIAL REPORTING IN THE NIGERIAN PUBLIC SECTOR

The paper examines the impact of IPSAS adoption on the quality of financial reporting in the Nigerian public sector. 164 respondents selected from the account departments of all government ministries under the Lagos State public service were sampled for the study. The study used regression analysis method to investigate the impact of IPSAS adoption on the quality of financial reporting in the Nigerian public sector. The study adopted adjusted R2 as a primary metric for measuring the model specification. The regression result shows that IPSAS adoption has a significant positive impact on the quality of financial reporting in the Nigerian public sector. This paper recommends that regulatory authorities should adopt adequate measures to ensure compliance by those saddled with the responsibility of preparing public sector financial statements. Also, measures should be taken to enhance the disclosure of relevant financial information that will help users take useful economic decision