PUBLIC SECTOR FINANCIAL REPORTING ATTRIBUTES AND PUBLIC ACCOUNTABILITY AT SUBNATIONAL LEVELS IN NIGERIA: A CASE OF TARABA STATE

Abstract

This research work examines the effect of public sector financial reporting attributes on public accountability at subnational level with a particular focus on Taraba State, Nigeria. The data of this study were collected using the questionnaire instrument which were administered on the sample of the accounting and auditing staff selected randomly across all Taraba State ministries. Data collected were statistically treated using Pearson’s correlation coefficient and multiple regression analysis to determine the direction and significance of the relationship between the variables and to test the hypotheses. The findings reveal a statistically significant positive effect of relevance, reliability and comparability of public sector financial reporting attributes on accountability in Taraba State. However, the statistical evidence failed to establish significant relationship between understandability and timeliness of public sector financial reporting attributes and accountability. The concluded that in order entrench greater accountability in subnational level in Nigeria particularly in Taraba State, policy makers and accounting operators must institute a process that make the public sector financial reports more relevant, reliable and comparable.