Effect of International Public Sector Accounting Standards (IPSAS) on Financial Reporting in the Nigerian Public Sectors: A Study of University of Jos

This study examined the effect of International Public Sector Accounting Standards (IPSAS) on financial reporting in the Nigeria Public Sector, a study of the University of Jos, Jos Plateau State. The population of this study is number of senior staff of Bursary Department of the University of Jos which amounts to 152. The population is the senior staff of Bursary Department of the University of Jos. The senior staff has a total population of 152 staff. Taro Yamane formula for sample size determination was used to ascertain the sample size for this study to be 110. Random sampling technique and structure questionnaire were administered to the respondents. Data collection was recorded and coded through the statistical package for social sciences (SPSS) version 23.0. The Ordinary Least Square (OLS) form of regression analysis was used to test the hypothesis and content analysis applies to the financial reports. The findings revealed that adoption of International Public Sector Accounting Standards has a significant effect on timeliness of financial Statement reported by the public entities in Nigeria and that adoption of International Public Sector Accounting Standards has a significant effect on accuracy of financial Statement reported by the public entities in Nigeria. The study recommended that the government should provide adequate financial resources devoted to implementation of IPSASs adoption and awareness activities. Similarly, it was recommended that regulatory authorities should put adequate measures in place to ensure compliance from the people saddled with the responsibility to prepare and present public sector financial statement. Also, measures should be taken to enhance the quality disclosure of relevant financial reporting information that will help users take useful economic decisions