Abstract
This study examined the adoption of International Public Sector Accounting Standards (IPSAS) and financial information reporting quality in the Nigerian public sector, with focus on selected ministries, departments, and agencies in Lagos State. A descriptive survey research design was adopted. The population comprised 520 accounting, auditing, finance, treasury, and budget personnel from selected Lagos State public sector institutions. Using the Taro Yamane formula, a sample of 226 respondents was drawn, out of which 210 valid questionnaires were returned and analyzed. Data were collected through a structured questionnaire designed on a four-point Likert scale. Descriptive statistics and simple regression analysis were employed at 0.05 level of significance using SPSS version 25. Findings revealed that IPSAS adoption has a positive and significant effect on the relevance of financial information reports (R = 0.711, R² = 0.506, p < 0.05), on faithful representation (R = 0.693, R² = 0.480, p < 0.05), and on comparability (R = 0.728, R² = 0.530, p < 0.05). The study concluded that IPSAS adoption is a vital reform instrument for strengthening financial information reporting quality in the Nigerian public sector. It was recommended that government should ensure full IPSAS compliance, provide continuous training for accounting personnel, invest in appropriate technology infrastructure, and strengthen institutional mechanisms for monitoring and enforcing reporting standards.
Keywords: IPSAS adoption, financial information reporting quality, relevance, faithful representation, comparability, Nigerian public sector.
Publication Date: 2026-05-03