Accountability In Nigeria Research Articles

Public perception on police effectiveness and accountability in Nigeria: Insights into crime prevention and control

Public perception on police effectiveness and accountability in Nigeria: Insights into crime prevention and control

Ethical ideology and fraud rationalization among future accountants in Nigeria

ABSTRACT This study examines the effect of ethical ideology on fraud rationalization among future accountants in Nigeria. Specifically, it investigates whether being a moral idealist or moral relativist influences the ability of future accountants to rationalize fraud. The study collected data from 225 participants with a scenario-based questionnaire, which was analysed using independent sample t-tests and regression estimation techniques. The results reveal a direct correlation between ethical ideology and fraud rationalization, indicating that future accountants who are high in moral relativism and low in moral idealism have higher tendencies to rationalize fraud than those who are high in moral idealism and low in moral relativism. These findings emphasize the importance of ethical ideology as an intrinsic psychological mechanism that can predict fraud rationalization tendencies in individuals. The study highlights the important implications of its findings and provides suggestions for future research.

Examining the Relationship between Human Rights Laws and Government Accountability in Nigeria

Purpose: The aim of the study was to analyze examining the relationship between human rights laws and government accountability. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: The study indicates that the effectiveness of human rights laws in promoting government accountability relies on strong enforcement, institutional reforms, and civic participation. To enhance accountability, recommendations include bolstering judicial independence, improving transparency in government operations, and empowering civil society to hold officials accountable for rights violations. These measures are crucial for cultivating a culture of human rights respect and fostering democratic governance in Nigeria. Unique Contribution to Theory, Practice and Policy: Institutional theory, principal-agent theory & critical legal theory may be used to anchor future studies on examining the relationship between human rights laws and government accountability. Conduct in-depth case studies and comparative analyses across different legal systems, political contexts, and socio-cultural settings to identify best practices and contextual factors influencing the implementation and effectiveness of human rights laws. Promote international cooperation and peer-learning initiatives among countries to share experiences, lessons learned, and best practices in implementing human rights laws and fostering government accountability.

Transparency and Accountability in Nigeria's Public Sector: Local Government Fiscal Autonomy in Focus

The study examines how local government fiscal autonomy can promote transparency and accountability in Nigeria’s public sector. Personal interview and survey research methods were adopted in the study and structured questionnaires were distributed to a sample of 132 local council administrators comprising Treasurers, Heads of Accounts, Budgets and Audit of the local government councils in the eleven states in the South-South and South-East Nigeria. A semi-structured interview was employed to guide the interview section. The study finds that there is a semblance of accountability in the management of local government council funds, but the transparency of the local councils is in doubt because fiscal information is not readily available. Most of the local councils do not have a functional website. A major limitation of this study is the unwillingness of respondents to divulge information on local council funds. To overcome this challenge, the research instrument was designed to make respondents give an estimate of the amount received. The study result shows that the fiscal autonomy of local councils is important for the development of the country and reinforces the need to grant local government councils fiscal autonomy to ensure effective development and bring governance closer to the people. The study findings show that granting autonomy to local councils in Nigeria will enhance the council area's development for the citizens' overall benefit. Based on the findings, the study recommends that federal and state governments in Nigeria should rethink the fiscal autonomy of local government councils and take necessary steps to restore the fiscal autonomy of the third tier of government to address the problems of developmental deficits ravaging the nation.

Characteristics and Skills of Forensic Accountants for Effective Financial Fraud Control in Nigeria

The study examined forensic accountants’ relevant characteristics and financial fraud control and investigated the extent to which traits, characteristics, core skills, and enhanced skills of forensic accountants are effective in fraud control. The study adopted the survey method and placed emphasis on the public and private sectors in Delta and Edo states in the south-south of Nigeria, where potential forensic accountants, academics, and users of forensic accounting services were considered respondents through a well-structured questionnaire. A total of 250 copies of the questionnaire were distributed to these respondents, while 214 copies were successfully retrieved. The successfully retrieved questionnaire was also subjected to a pre-test using Cronbach-Alpha test. The collected data were tested and analyzed using ordinary least squares (OLS) regression, correlation matrix, descriptive statistics, and tables. Based on the outcome of the test and analysis, the traits, core, and enhanced skills of forensic accountants have a significant positive effect on financial fraud control. These traits and core and enhanced skills include analytical proficiency, detail orientation, deductive analysis, strategic thinking, analyzing and interpreting financial statement information, interviewing skills. We recommended among others, that the government approve the practice of forensic accounting in Nigeria to aid government agencies in fighting fraud.

Corporate accountability for climate change and natural environment in Nigeria: Trends, limitations and future directions

One of the contemporary problems in the business and human rights debate is the obligations of business enterprises to reduce and redress the adverse effects of their operations on the environment. In Nigeria, despite the existence of various regulations and monitoring institutions, environmental pollution caused by the activities of business enterprises persists. The impact of climate change and environmental damage on sustainable development in Nigeria can no longer be ignored as our common future is becoming critically dependent on making the condition of the environment and human lives our top priorities. There is need for a stringent legal framework on business and human rights in Nigeria, accelerated implementation of the National Action plan on business and human right, a committed implementation of existing regulations on environmental protection, strict enforcement of laws and proper awareness that will ensure responsible business practices by business enterprises in all key sectors in Nigeria. This study examines the concept of corporate accountability in Nigeria. It identifies the inadequacies of existing national laws on corporate accountability for environmental protection, and proffer solutions to these gaps.

Contribution of Cloud Accounting to Employment and Economic Growth: An Evaluation from Nigerian Public Sector

Statistically, the global unemployment rate has drastically reduced due to emergency of cloud accounting. This research therefore evaluates the contribution of cloud accounting to economic growth and employment creation from the Nigerian public sector perspective. Analyzing secondary data from 2016 to 2022, the study identifies several significant findings. The data obtained were analyzed using descriptive statistics and time series data containing ordinary least square technique. The results highlight a positive and statistically significant correlation between the adoption rate of cloud accounting, the number of cloud accounting software providers, and the General Cloud Accounting Metric. These findings underscore the pivotal role of cloud accounting in fostering economic growth in Nigeria through job creation and facilitating informed decision-making with remote financial information. However, it's crucial to acknowledge that Nigeria's annual adoption rate of cloud accounting remains relatively low. Therefore, the study recommends concerted efforts to accelerate and improve the adoption of cloud accounting in Nigeria.

Moderating Influence of Idiosyncratic Diversity on the Relationship between Accounting Ethics and Financial Reporting Quality

Purpose- The study investigates the moderating influence of idiosyncratic diversity on the relationship between accounting ethics and financial reporting quality, against the backdrop of the unending corporate collapses and their antecedent effect on the profession of accounting. Design/Methodology/Approach- The study is anchored on the positivist philosophy with a deductive research strategy. We employed theoretical triangulation having combined agency theory and resource dependency theory. The sample size of three hundred and eighty-four respondents was established using the Cochran (1977) approach for the infinite population. Primary data were collected for the study through a survey approach and analysed using the Ordinary Least Squares regression technique. Findings- The study validates the significant relationship between accounting ethics and financial reporting quality in extant literature. In addition, we found a significant moderating influence of idiosyncratic diversity on the relationship between accounting ethics and financial reporting quality. Practical implications- The study demonstrates the strategic importance of accountants of diverse nationalities in delivering quality financial reporting in Nigeria. Research limitations/implication- The research is a country-wide study of accountants in Nigeria which enhances the extensive generalization of the outcomes. Originality/value- While extant studies have mainly been preoccupied with the accounting ethics-financial reporting dynamics, the current study focuses on understanding the moderating influence of idiosyncratic diversity on the relationship between accounting ethics and financial reporting quality. In addition, the country-wide approach adopted circumvented the limitation of micro numerosity of data which has been the bane of major prior studies.

The Role of Internal Governance Mechanisms in Ensuring Corporate Accountability in Nigeria

The Role of Internal Governance Mechanisms in Ensuring Corporate Accountability in Nigeria

Exploring Public Servants' Perceptions of the Treasury Single Account (TSA) as a Catalyst for Public Sector Accountability in Nigeria

Exploring Public Servants' Perceptions of the Treasury Single Account (TSA) as a Catalyst for Public Sector Accountability in Nigeria

Assessment of Accounting Policy Choices on Accounting Practices: Evidences from Accountants in Nigeria

The fundamental aim of this study was to investigate the assessment of accounting policy choices on accounting practices in Nigeria. The survey research design was used for this study, and the population was the total number of accounting and related practitioners in Nigeria, which was categorized as an infinite population. However, samples of 672 were chosen using a multistage non-finite population method. The structured questionnaire was used as the primary source of data, and data was collected using a Google form. The words in the questionnaire were carefully chosen to address the study's primary objectives. The questionnaire was divided into two sections, A and B. Section A contained biographical information on the respondents, whereas Section B contained remarks about the study's objectives or hypotheses. The response options were a 5 likert scale system with Strongly Agreed, Agreed, Undecided, Disagreed, and Strongly Disagreed scored from 5 to 1. For descriptive statistics, a basic frequency table was utilized, whilst analysis of variance (ANOVA) and ordinary least squares (OLS) were used to draw conclusions from the hypotheses developed. Cronbach's Alpha was also employed to determine the internal consistency of the scale used along with the research items. The result showed R of 76.0% which indicates a very positive and strong model. The overall fitness of the model is established based on the outcomes of the study which showed that the three aspects of accounting policy choices have a joint significant influence on Nigerian enterprises' accounting practices (F= 76.001, p-value =0.000). The study concluded that the three dimensions (revenue recognition, depreciation and inventory valuation policies) of accounting policy choices all have significant influence on accounting practices of Nigerian firms. Therefore, this study recommended that Nigerian firms, corporate or otherwise should ensure that appropriate income recognition policy be se

Digital Forensics in the Era of Cybercrime: Emerging Trends and Challenges for Forensic Accountants in Nigeria

This study examined the impact of technology on digital forensics and the challenges faced by forensic accountants in the era of cybercrime. The study highlights the four dimensions in which technology has an impact on digital forensics: technical, legal, organizational, and educational. The paper also discusses how emerging technologies such as artificial intelligence and machine learning can be used in digital forensics, along with the challenges they present. Cloud computing is also examined, and the challenges it poses for forensic accountants who need to access and analyze financial data stored or processed in the cloud are discussed. The research used a qualitative research design and incorporated the chain of custody theory in digital forensics. The findings of this study suggest that forensic accountants need to update their knowledge and skills in digital forensics to keep up with the latest trends and technologies in cybercrime in Nigeria. It is recommended that forensic accountants adopt a multidisciplinary approach that integrates accounting principles with digital forensics methods and tools. Additionally, following best practices and guidelines for digital evidence collection, preservation, analysis, and presentation is crucial to ensure the integrity, reliability, and admissibility of digital evidence in court.

Scholastic Analysis of the Impact of Digital Technologies on the Accountancy Profession in Nigeria

The study investigated the effect of digital technologies adoption in the accounting profession. It surveyed the perspectives of experts on the impacts of digital technologies on the accounting profession. The impacts on skills, tasks and work environment as well as the challenges of adoption of digital technologies by accountants in Nigeria were studied. The descriptive survey was used for the study. 127 certified accounting experts in Akwa Ibom State were sampled for the survey. The researcher developed instrument titled “Digital technologies and Accounting Professionals Questionnaire” was used for data collection. The study made use of primary data. Accounting experts were interviewed and questionnaire administered to ascertain their opinion on the penetration, impacts and potential effects of digital technologies on the accounting profession. The instrument was validated by three experts in the Department of accounting, Akwa Ibom State University. Thereafter, the instrument was trial tested for reliability using the test retest method on 20 respondents. The data collated was tested through Pearson product moment correlation, which gave a value of .88. this was deemed good enough and the instrument was then deemed fit for the study. Frequencies and descriptive statistics were used for answering the research questions while simple linear regression was used to test the hypothesis at a 0.05 level of significance. Findings of the study showed that the digital technologies impacting the accounting professions are artificial intelligence, enterprise resource planning, internet of things (IoT), blockchain technology, cloud accounting technology and big data analysis. It was also established that digital technology adoption has a significant positive effect on the changes in the accountancy profession in Nigeria. Also, emerging digital technologies adoption will significantly predict the nature of skills in the accountancy profession in Nigeria. it was recommended that in order to keep adding value for the company, accountants need to developed new skills and acquire new knowledge regarding the use of artificial intelligence and other digital solutions in modern business environment. There is highlighted the need of all employees (including accountants) for development of critical thinking and problem solving, high level of adaptability, flexibility and interpersonal interaction; it is required to learn continuously.

Emotional intelligence and fraud tendency: a survey of future accountants in Nigeria

PurposeThis study examines the association between emotional intelligence (EI) and the tendency of future accountants to rationalize and engage in occupational fraud.Design/methodology/approachThe study adopts a survey methodology and uses a questionnaire containing a fraud scenario and EI construct to gather data from 225 participants. It performed a Cronbach alpha to assess the measurement parameters consistency of EI and fraud tendency and employed Pearson correlation and regression analysis to test its hypothesis.FindingsThe study found that future accountants in Nigeria are emotionally intelligent and have a high fraud tendency. Also, it found a significant and positive association between EI and fraud tendency, suggesting that future accountants that are emotionally intelligent have a higher tendency to rationalize and engage in occupational fraud. In addition, the study found that academic intelligence, a control variable, positively associates with fraud tendency.Practical implicationsThe study offers rare insights into the fraud tendency of future accountants, which would benefit the counter fraud community in Nigeria and other developing countries. Recruiters and employers will find the study beneficial in decision-making on job recruitment, placements and moral orientation for prospective accountant employees.Originality/valueThe study is the first to directly associate EI with the fraud tendency of future accountants from a developing country with high fraud profile and underdeveloped counter fraud strategy. Thus, it provides a benchmark for future studies in other developing countries.

Impacts of the Fight against Corruption by the Economic and Financial Crimes Commission in Promoting Good Governance and Accountability in Nigeria

Purpose: This study investigated the impact of the fight against corruption by the EFCC in promoting good governance and accountability in the current administration of president Muhammadu Buhari. Specifically the paper sought to examine the extent to which the fight against corruption by the EFCC have promoted good governance and accountability in Nigeria today.
 Methodology: The methodology adopted is qualitative method of data collection and analysis where some informants with an experience and classified information on the subject matter were consulted for interview. The paper adopted Richard A Joseph (1996) Prebendalism theory on corruption. The data obtained was interpreted for analysis and findings.
 Findings: The paper discovered that as laudable as the intentions and effort of the government to curb corruption through the EFCC and laws, they have left much to be desired. Infact the fight against corruption by the EFCC are of limited value because they fail to take into account much of the dymanics that support corruption making people now regard the EFCC as a tool to fight political enemies of the current administration.
 Unique Contribution to Theory, Practice and Policy: The paper therefore recommends among others the need for greater transparency by the EFCC in combating corruption if its effort must promote good governance and accountability in Nigeria

Oil Price Fluctuations and its Impact on Current Account in Nigeria

This study investigates the relationship between oil price fluctuations and Nigeria’s current account balances from 1987 to 2021. Current account is a pivotal macroeconomic variable that is used to measure the economic performance of a country. This current account is itself a record of all of a country’s national and international transactions and oil price is one of the major factors that determines the value and volume of transactional movements in a country. This is largely the case with Nigeria, which is a country that is heavily reliant on oil. This study adopted a time series analysis by investigating time series data and the Autoregressive Distributed Lag (ARDL) was used to estimate the correlation between oil price variations and current account in the short and long runs. The findings showed that oil price had a positive but insignificant effect on current account in the short run while it had a negative but significant impact on the current account in the long run. In terms of the other determinants of current account which were examined in this study, it was discovered that population growth rate and trade had an insignificant correlation with current account balances in the short run while GDP and oil prices had significant impacts on current account balances in the long run. These findings inform the conclusion of this study that current account is a viable metric for measuring Nigeria’s economic performance as well as policy making. To gain greater economic stability, this study recommended that there is a need to strategically position Nigeria’s economy towards other forms of revenue rather than oil so as to reduce the impact of oil price fluctuations on the country’s current account balances and the economy at large.

Achieving Sustainable Development Agenda of 2030: The Role of Accountants

The study examined the contribution of accountants in achieving the sustainable development agenda of 2030. A perspective study of accountants in Nigeria was carried out to specifically determine the role of accountants in ensuring sustainable management of water and sanitation, sustainability of cities and human settlements, and sustainable consumption and production patterns. Cross-sectional survey research design was deployed for the study. A sample size of eighty-nine (89) chattered accountants was obtained from a population of seven hundred and seventy-two (772) professionally affiliated Accountants in Nigeria. Primary data were sourced from the questionnaires administered on the 89 sampled chattered accountants in Nigeria. Kolmogorov-Smirnov Test was used in hypotheses testing at 5% level of significance. The findings of the study revealed that: accountants play a significant role in ensuring availability and sustainable management of water and sanitation (D = 0.197, p = .002); accountants have a significant function in making cities and human settlements inclusive, safe, resilient and sustainable (D = 0.151, p = .001); there is a significant responsibility of Accountants in ensuring sustainable consumption and production patterns (D = 0.178, p = .000). Based on the finding, it was recommended that Accountants should help in reducing waste generation through prevention, reduction and recycling and reuse of waste.

THE NIGERIAN SOCIO-ECONOMIC AND POLITICAL LANDSCAPE: WITHER THE CHARTERED ACCOUNTANTS

The socio-economic and political landscape of Nigeria, is replete with, corruption, poverty, unemployment, insecurity and poor governance. A combination of the aforementioned issues are capable of crippling investments and ensure declining growth in the economy. How would the Chartered Accountants help in salvaging the situation? Given that the Chartered Accountants are 'numbers people' and are capable of reducing 'everything concerning any economy’ to numbers, perhaps, the answer may be in the affirmative. But, given the recent and trending allegation levelled against the now suspended Accountant-General of Nigeria(AGN), who will " police the police "? The main argument of this paper, therefore, is that, not even the Chartered Accountants alone can enhance public sector accountability in Nigeria, without the supporting role of all stakeholders, including other professionals. On the part of government, institutional strengthening is a key part of a country's anti-corruption strategies. Strengthening, through reforms in the judiciary, the anti-corruption agencies and good living wages for civil servants will do it. Given the complex and interconnected world, tackling the aforementioned socio-economic and political issues requires strong collaboration and commitment from the public, private and regulatory authorities.
 Keywords: Accountability, Corruption, Insecurity, Transparency, Nigeria Economy.

Marketing of Accountancy Services in Nigeria: The Institutional Constraints

This paper examined the institutional constraints in the marketing accountancy services in Nigeria. It was established that accountancy services are many, and they include services provided by accountants other than statutory audit. In view of the fact that providers of these services are professionally qualified accountants, there must be some competition among them, leading to intense marketing activities. However, this paper found that professional bodies, in particular, Institute of Chartered Accountants of Nigeria (ICAN) have developed stringent guidelines, rules, and professional ethical standards that seriously curtail marketing activities of product (service) development, and service distribution, pricing, and promotional activities among accountants in Nigeria.

Global Ethical Consideration and Accounting Practices in Nigeria

The poor culture of accounting practices in Nigeria, as well as manipulation of financial statements have attracted the attention of scholars’ overtime to question the role of global ethics on accounting practices in Nigeria. In view of this, the main objective of this study dealt on the conceptual review of global ethical consideration and accounting practices in Nigeria. The study employed a review of literature by past researchers on the discourse. In conclusion, the study found that in Nigeria the culture of accounting promotes creative accounting practices, income smoothing and window dressing. Based on the findings, the study recommended that culture should be given adequate consideration in enforcement of global ethical rules and regulation among practicing accountants in Nigeria. Furthermore, professional bodies like Institute of Chartered Accountants of Nigeria ICAN, Association of National Accountants of Nigeria and financial reporting council of Nigeria. Should work in concensus in order to comply effectively with IFRS and global ethical rules and regulations.