CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF THE STUDY:
Corruption and looting
of public treasury is a major problem in the public sector accounting. Report
from office of statistics Lagos show that our accounting records are balanced
in arrears and our financial records are hardly balanced daily, weekly,
quarterly, half-yearly and yearly basis as appropriate. This was evidenced by
Chief Olusegun Obasanjo during his first maiden address to the nation
immediately he was sworn-in as the President of the federal republic of Nigeria
on the 29th day of May 1999. He
stressed that accountability, probity and transparency has suffered a lot
set-back especially in the civil service. He therefore suggested that some of
the best ways to eliminate this ill in the Nigerian public service are;
The effective use of public accounts; The use of
effective legislation;
The effective implementation of
government policies programs;
The
effective use of auditors of the federal republic of Nigeria among others.
He therefore concluded
by saying “when we consider how the public accounting and auditing can grow and
develop, we are concerned not only with helping the public accountant or the
auditor fill their position, but also with helping the whole economy and the
organizational structure grow and develop” (Obasanjo). The concept should
therefore make it wise for us to look more closely at the relationship between
Nigeria and other countries of the world. And for Nigeria to be recognized as a
corrupt-free economy, the accounting profession must be in a position to
balance the financial records of the federal government daily, weekly, monthly,
quarterly, half yearly or yearly basis. This is because members of the public
and the international community want to see results, see the economy grow and
the professions produce the final output.
The same goes for other
facts of the economy as indicated above. The military system of administration
should be thrown to the winds as we have evolved democracy like other developed
countries of the world such as United State of America, United Kingdom etc. It
was in an attempt to analyze the import of the president‟s address on the 29th
May, 1999 that this topic, “the impact of accountant in the implementation of
accountability, probity and transparency in the federal civil service” comes to
mind.
1.2
STATEMENT OF THE PROBLEMS:
1. Financial
records do not reflect the true and fair view of the accounting records due to
the corrupt society.
2. Budgets
are never reviewed in time and derivations are not investigated to ensure
prompt remedial action which will re direct and re orientates plans towards
budgeted levels.
3. The
threat to the continual production of qualified accountants who will replace
other retrieving hands. The system forms a number of factors like inadequate
infrastructures e.g. training materials, library facilities‟ computers etc.
necessary for programs thereby leading to a very poor and unrealistic
remuneration paid to the practicing accountant in form of salary.
4.
Funds
are not judiciously expended for the purposes they were outlined for.
5. Another
shortcoming is the quota system in the federal services; the quota system has
introduced mediocre and unethical practices in the accounting profession in a
bid to fill in vacant positions in the federal civil services.
1.3
THE OBJECTIVES OF THE STUDY
i.
To
examine the financial records if it shows a true and fair view
ii.
To
analyze or investigate the budget before they are passed on
iii.
To know whether the distribution of
funds and resources are judiciously expended
1. Has
accountants help to review the financial statement if shows a true and fair
view
2.
Do
accountants help in analyzing the budgets before they are passed on
3. Do
accountants help in ensuring that the distribution of finds and resources are
judiciously expended.
1.5
HYPOTHESES
Ho:
accountants do not help to review the financial statement to show a true and
fair view
Hi:
accountants help to review the financial statement to show a true and fair view
Ho:
Accountants do not help in analyzing the budget before they are passed on Hi:
accountants help in analyzing the budget before they are passed on
1.6 SIGNIFICANCE OF THE STUDY
This study will be of
immense help to the policy makers in the federal civil service of Nigeria who
will be able to know and assert the adequate role of the public accountant in
the service with a view to showing up the programs of accountability, probity
and transparency of the present administration.
“Nigeria” for the
purpose of this paper means” the Federal Republic of Nigeria including any area
outside the territorial waters of the Federal Republic of Nigeria which in
accordance with international law has been or may hereafter be designated under
the laws of the Federal Republic of Nigeria concerning the continental shelf,
as an area within which the rights of the Federal Republic of Nigeria with
respect to the sea-bed and subsoil and their natural resources may be
exercised.” Constitution of the Federal Republic of Nigeria (1999).
The policy makers
should see the public accountants as playing the role of a coach who exposes
the skills and tactics and allows the players to play the game. This is because
in everything an individual or a group of individuals in varying professions,
do, there is a reason and purpose. For example, in a private organization this
reason or purpose is referred to as an objective or goal. Therefore, government
(public service) whose realm of operation is popularly referred to as the
public sector has as its objective the governance of her people. This implies
the tremendous
responsibility to resources
and allocates same
towards fostering economic growth and
improving the standard of living of the citizens of the nation. Again
government is empowered by the laws of the land (constitution) to engage in
contractual arrangements for the purpose of increasing the resources available
to her in order to meet the requirements of governance, since it holds the
wealth of her nation in trust for that nation. To this extent, the government
of a nation owes her citizens the duty to account for the stewardship in the
effective disposition of the resources entrusted to her (This is
accountability).
For the government or
the public sector to discharge her responsibility or stewardship effectively,
there is the need to maintain proper records of the value of all programs,
activities and services, synthesize and analyze the effect of government
financial transaction, classify, summarize and communicate such information for
purposes of future decision-making or assessment of performance.
1.7 SCOPE OF THE STUDY
For the purpose of this study, the ways
of improving the influence of accountants in the office of the accountant
general for the federation (OAGF) as well as the influence of accountants in
the implementation of best practice in government organization will be a
focused point in this study.
The limitations
involved in the course of this research included hostility and non-cooperation
on the part of some of the respondents, and also the constraint of time was a
limiting factor in the course of writing this work.
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