INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARD (IPSAS) DISCLOSURE REQUIREMENTS AND BUDGET PERFORMANCE IN THE NIGERIAN PUBLIC SECTOR
The practice of budgeting in the Nigerian public sector, before the implementation of IPSAS, has become more of annual ritual than a functional activity; hence, no stable yardstick through which relevant stakeholders could evaluate actual performance from estimated activities at the year-end. This study investigated the effect of international public sector accounting standard (IPSAS) 18, 22 & 24 disclosure requirements on budget performance in Nigeria. Data were drawn from the primary source through the use of questionnaire to elicit responses from sampled 257 public regression was adopted for inferential statistical analysis. The result indicated that IPSAS 18, 22 and 24 disclosure requirements do have significant effect on budget performance in Nigeria public sector. In view of the findings, it was recommended that government should adopt and implement full accrual IPSAS to ensure effective management of public funds and proper accountability. Those saddled with the responsibility of carrying out over-sight functions and monitoring of budget implementation should be trained on the IPSASs implementation and application.
