Accounting: A Tool for Corruption Control in the Public Sector in Nigeria

Abstract

This paper examined the role of accounting on corruption control in the Nigerian Public Sector and the rate existing internal control and accounting standards are helping to reduce the occurrence of corruption. The specific objective of the study is to find out whether internal control and accounting standards have significant relationship with corruption control in the public sector in Nigeria. The study obtained primary data using a structured questionnaire while secondary data were obtained from reports of previous studies. To test for reliability of result from data used, the cronbach alpha coefficient was applied. Questionnaires were administered to staff on grade level 10 to 14 in 5 selected ministries in Ekiti, a state in Nigeria. Respondents were selected using stratified random sampling. Multiple regression analysis result exhibited that both internal control and accounting standards have significant negative relationship and effect on corruption control in the Nigerian public sector. Among the recommendation of the study is that management personnel should at least have basic knowledge of accounting while staff in the accounts department to proceed regularly on training to meet up with prevailing accounting trends.

Keywords: Accounting Standards, Internal Control, Corruption, Corruption Control.