BALOGUN, SHERIF BABAJIDE and FATOGUN, OLUKUNLE IBUKUN (2019) LOCAL GOVERNMENT AUDIT AND FINANCIAL REPORTING IN OGUN STATE, NIGERIA. In: 10TH NATIONAL CONFERENCE, SCHOOL OF MANAGEMENT STUDIES, 26 th - 29 th August, 2019, THE FEDERAL POLYTECHNIC, ILARO.
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Abstract
This paper was generally designed to assess the effectiveness of auditing and financial reporting at the local government authorities, in enhancing public financial accountability in Ogun State, Nigeria. To achieve the objective of this study primary and secondary data were used. The secondary data include recent and relevant journals, government publications and the primary data were collected through questionnaire administered through randomly selected staff from four (4) local governments across Ogun State Senatorial District. Data collated were analyzed using frequency table and percentage, with one-way Analysis of Variance. One local government from Ogun West, one from Ogun East and two from Ogun State Central, Senatorial district,which represent 20% of the totallocal governments in each district. In total,186 sample size selected for questionnaire purpose and six (6) directors/heads(two (2) each from sampled local government) were selected for interview. The study revealed that an effective audit process will enhance financial reporting of local government in Ogun State while there are several factors militating against the audit of local government and financial reporting in Ogun State which include among other; no proper stewardship reporting, administrative interference, weak internal control, poor remuneration and inadequate qualified staff. The study concluded that efforts should be geared towards auditing of local government account for effective and efficient stewardship reporting by council officials without political and administrative interference of the councils financial and management activities, with the engagement of competent audit staff and auditors should well be paid so that they can carry out their duties with the standard of care required effectively at all time
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory H Social Sciences > HG Finance |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Miss Ayomikun Ogunbadejo |
| Date Deposited: | 30 May 2020 13:31 |
| Last Modified: | 30 May 2020 13:31 |
| URI: | http://eprints.federalpolyilaro.edu.ng/id/eprint/213 |
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