Functional Impact of Public Accounts Committee on Public Accountability over Financial Crimes in Nigeria

Abstract

This study examined the functional impact of public accounts committee on public accountability over financial crimes in Nigeria. Purposefully, the study assessed the extent PAC function has impact on public accountability in Nigeria; the impact of PAC function on transparency and accountability in Nigeria; and the significance of PAC function for public accountability over financial crimes in Nigeria. The researcher used descriptive and survey designs to carry out the study. The respondents were seventy-six (76) accounting officers/accountants and auditors drawn from federal and state establishments in Rivers/Bayelsa states. The data obtained was facilitated by administering a research questionnaire of thirty-five (35) items to eighty-five (85) accounting officers/accountants and auditors, having a response rate of 89%. Among other things, the findings of the study revealed that to a moderate extent PAC function has impact on public accountability in Nigeria. There is also a significant impact of PAC function on transparency and accountability in Nigeria; and a great significance of PAC function for public accountability over financial crimes in Nigeria. Although, Nigerian PAC functions to a moderate extent in terms of enhancing public accountability, there is still need for the PAC to adopt effective approach towards accountability facets of popular control, equilibrium of power and reflective governance. In light of this, the study concluded that the function of PAC to a moderate extent has impact on public accountability over financial crimes in Nigeria.