PROBLEMS AND PROSPECTS OF LOCAL GOVERNMENT ACCOUNTING SYSTEM IN NIGERIA

(A STUDY OF OHAOZARA LOCAL GOVERNMENT)

A RESEARCH PROJECT SUBMITTED TO THE

DEPARTMENT OF ACCOUNTANCY

FACULTY OF MANAGEMENT SCIENCES

IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF SCIENCE (B.Sc.) DEGREE IN ACCOUNTANCY

ABSTRACT

This work focused on “Problems and Prospects of Local Government Accounting System in Nigeria with Special reference to Ohaozara Local Government Area of Ebonyi State”. Descriptive research design was used to enable the researcher investigate the events as there existed during the time of study. The study was equally guided by 5 research questions, 120 staff of the council were studies. The hypotheses formulated were tested using the chi-square (X²) statistical summarization technique. A structured questionnaire was used in collecting data from the respondents. Data gathered indicate that Ohaozara Local Government Council has not created any impact on the people resulting from poor fund management. The financial managers of the council are corrupt and do not keep to local government accounting guidelines. It was also revealed that the funds available to the council are not enough to tackle the problems facing the council. The auditors are often influenced, hence, ineffective financial reports are common. The aim of this study is to identify the Problems associated with Local Government Accounting in Nigeria. The work concluded that the financial management of the council is ineffective. Some recommendations were made at the end of the work to include regular supervision of the financial managers activities.

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