Financial Regulation And Accounting In Nigeria Public Sector (A Survey Of Selected Public Firms In Rivers State)

ABSTRACT

The objective of the study is to identity the major problem militating against preparation and presentation of an authoritative statement of affairs by the; public servants, and to identity the existing financial control measure with a view to reinforcing them to demonstrate accountability i9n the public sector and to ascertain the level of professional skills (personnel required of the purpose of coordinating and reporting financial activities of the public sector . To do this, data was gathered through primary and secondary data. The primary data was gotten through questionnaire as well as personal interviews on selected respondents. Also, secondary data were gathered through using literature and books. These data were analyzed using tables. the study used a sample size 62.and was gotten through taro-Thames test of sample. The hypotheses we tested by means of the chi-square formula test of simple proportion and descriptive model. The total population for the study was 5. The study, among others discovered that the responsibility for control and management of public fund is essentially a matter of accountability. However, the effect of lack of accounting system is more pervasive among our public servants. It was equally discovered that the area militating against the preparation and presentation of an authoritative statement of affairs is lack of accountability.