ABSTRACT

In recent years, the number and monetary values of public sector activities have increased substantially. This increase in activities has brought with an added demand for accountability. Officials and managers who manage these activities need to render adequate accounts of their activities to the public. The public on their part need to receive accountability reports in order to assess the performance of those entrusted with public sector resources. This process brought the concept of accountability into the governing process of any nation. Financial Control System therefore is one of the elements that is responsible for ensuring that appropriate accountability is maintained in the public sector. Control System according to Oshisami. K. (1998) is a system built to maintain a design state. This means that the system can only take over after the desired state has been determined. Financial Control is a process which assures that financial resources are obtained economically and used efficiently effectively in the accomplishment of desired goals. ( Nwadighioha, 2007.) Public Accountability on the other hand, involves in addition to stewardship, a process which assures that efficiency and effectiveness of stewardship is achieved in the public sector. Also, the study of the principles of financial control and accountability would aid in providing public officers with the knowledge 7 and understanding of the rudimentary norms of the government on financial matters, hence foster proper adherence to them.