IPSAS Adoption and the Quality of Financial Statements in Tertiary Educational Institutions in Lagos State.

Abstract:

This study investigates the impact of IPSAS adoption on the completeness and comparability of financial statements within tertiary educational institutions in Lagos State. The study employed the survey research design. Data were collected from primary sources through the use of structured questionnaires distributed to the officers in the bursary department across the selected institutions. The study population comprises the five public tertiary educational institutions in Lagos State. The study adopted a simple random sampling technique. The sample size was 100 officers in the bursary department across three institutions in Lagos State. Data collected were analysed using descriptive statistics and regression analysis. The results revealed weak correlations between IPSAS adoption and improvements in the completeness of financial disclosures and comparability of financial statements. The need for better training and capacity among accounting personnel was emphasized. Therefore, the study recommended that IPSAS Training Programme be enhanced across tertiary educational institutions. Research on International Standards should be improved by the government and awareness campaigns should be conducted by regulatory bodies.