EVALUATION OF FINANCIAL REPORTING SYSTEM IN PUBLIC SECTOR: CASE OF TARABA STATE MINISTRY OF FINANCE, NIGERIA

Abstract

This paper's primary goal is to investigate the evaluation of the Financial Reporting System in Public Sector at Taraba State Ministry of Finance in Nigeria. An accounting system is a device that is intended to function by accounting standards and principles. This study adopts the survey research design which a well-structured questionnaire was designed and distributed to the respondents. The population of the study comprises accounting Staff in the Ministry of Finance Taraba State. In considering sample size, the sample size is arrived at by the use of the number estimation formula as suggested by Taro Yamane. Population size of 460 with a Sample size of 214 staff in the Ministry of Finance Taraba state. This information obtained from respondents of the questionnaire was analyzed using Chi-square denoted by the Greek letter x2. The results showed that the Financial Reporting System in the Public Sector at the Taraba State Ministry of Finance has a positive and significant link. Additionally, was stated that there is no connection between the financial reporting of Nigeria's public sector and professional qualifications in accounting. Hence, the study recommends that accounting officers should be sent for training and retraining to enable them to understand the modern techniques of the public sector accounting system. Also, there is a need to be involved in training political office holders immediately after they assume office so that they should give proper respect to rules and regulations to enable the professionals to discharge their duties according to the guidelines and procedures.