Effect of Public Sector Accounting on Financial Control System in Akure South Local Government

Abstract

The purpose of this research is to find out the effect of public sector accounting on financial control system using Akure south local government area of Ondo state as a case study. Proper understanding on how public fund is being adopted by the local government is the aim of this study and also to determine whether the public sector accounting principle applied by the local government is appropriate and effective and to investigate whether the source of revenue to the local government is enough for them. The staff and members of Akure south local government area of Ondo state were used for the population size, linear regression sampling techniques were used by getting the sample size. Data for this study were primarily sourced. Linear regression was used to analyze the responses gotten from the distributed questionnaires. As shown by the descriptive statistics findings, the public accounting principle applied by the said local government area is ineffective and the control of public fund measures adopted is also inappropriate. Therefore the study recommends that an account committee should be set up to control the accounting system of the said local government and monitor their day to day activities then, the goal of creating the local government will be fully achieved.