Version 1
: Received: 27 October 2023 / Approved: 30 October 2023 / Online: 30 October 2023 (13:23:33 CET)
How to cite:
Igboke, B. O.; Raj, R. Exploring the Essence of Public Financial Accountability in the Public Sector: A Qualitative Analysis. Preprints2023, 2023101936. https://doi.org/10.20944/preprints202310.1936.v1
Igboke, B. O.; Raj, R. Exploring the Essence of Public Financial Accountability in the Public Sector: A Qualitative Analysis. Preprints 2023, 2023101936. https://doi.org/10.20944/preprints202310.1936.v1
Igboke, B. O.; Raj, R. Exploring the Essence of Public Financial Accountability in the Public Sector: A Qualitative Analysis. Preprints2023, 2023101936. https://doi.org/10.20944/preprints202310.1936.v1
APA Style
Igboke, B. O., & Raj, R. (2023). Exploring the Essence of Public Financial Accountability in the Public Sector: A Qualitative Analysis. Preprints. https://doi.org/10.20944/preprints202310.1936.v1
Chicago/Turabian Style
Igboke, B. O. and Razaq Raj. 2023 "Exploring the Essence of Public Financial Accountability in the Public Sector: A Qualitative Analysis" Preprints. https://doi.org/10.20944/preprints202310.1936.v1
Abstract
The concept of public financial accountability, often associated with account-rendering, lacks a clear and comprehensive definition in the realm of accounting literature. Disentanglement the true essence of a phenomenon is essential, as formal definitions can only provide a superficial understanding. This study seeks to delve into the core principles of public financial accountability and their implications for financial reporting in the public sector. Applying a qualitative approach, data was gathered through in-depth interviews with 25 Nigerian scholars, professionals, and public affairs experts. The analysis reveals that the essence of public financial accountability lies in upholding citisens' trust in public officials, ensuring the responsible management of public financial resources for the greater public good, and effectively communicating financial decisions, actions, and outcomes to the public through a transparent reporting mechanism. This study sheds light on the fundamental nature of financial accountability in the public sector, enhancing our understanding of its significance in governance and financial reporting.
Keywords
Accountability; Essence; Financial Reporting; Effective Communication; Public
Subject
Business, Economics and Management, Accounting and Taxation
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.