EFFECT OF PUBLIC SECTOR FINANCIAL REFORMS ON ACCOUNTABILITY OF UNIVERSITIES IN THE NORTH-CENTRAL NIGERIA

Abstract

This study examines the effect of public sector financial reforms on accountability in federal universities in North-Central Nigeria, focusing on financial planning and reporting reforms. In response to concerns over transparency and financial management, the study evaluates how budget management, budget procedures, budget control, and International Public Sector Accounting Standards (IPSAS) compliance impact financial accountability. The objectives are to determine the role of these reforms in enhancing stakeholder engagement, internal controls, and transparent governance within these institutions. Using a survey design, structured questionnaires were administered to bursary department staff across eight federal universities, and analysis was conducted using Ordered Logistic Regression. Results show that budgetary planning and IPSAS compliance significantly improve stakeholder engagement, with coefficients of 0.571 (p < 0.001) and 0.495 (p = 0.013), respectively. Budgetary management also positively affects internal control and audit functions, with a coefficient of 0.933 (p = 0.015), while IPSAS compliance further contributes with a coefficient of 0.281 (p = 0.009). Ordinary Least Squares regression reveals that 75.15% of the variation in accountability is explained by these financial reforms, with budgetary management (coefficient = 0.161, p = 0.022) and IPSAS (coefficient = 0.065, p = 0.012) making significant impacts. The study concludes that effective financial planning and reporting reforms are essential for fostering accountability, improving internal controls, and building stakeholder trust. It recommends that universities adopt participatory budgeting, implement automated tracking, and strictly adhere to IPSAS standards to enhance transparency and strengthen governance.