JOURNAL OF BUSINESS & ECONOMY

The need for financial probity cannot be overemphasized as this has drawn the attention of researchers in the field of accounting and finance that demands urgent attention. Despite widespread reforms aimed at enhancing transparency and governance, persistent challenges such as inconsistent compliance, delayed reporting and weak institutional capacity undermine financial accountability at the subnational level. This study addressed a critical gap in the literature by empirically investigating the specific effect of IPSAS within the unique socio-administrative context of Ogun State LGAs focusing on four dimensions: compliance, transparency, corruption and timeliness. The objective of the study was to investigate the effect of IPSAS adoption on financial accountability of LGAs in Ogun State. The study employed a survey research design targeting a population of 475 accountants, internal auditors and accounts staff across Ogun State LGAs. A sample size of 448 was determined using the Olonite sampling technique. Data were collected via structured questionnaires and the instruments reliability was confirmed with Cronbach’s Alpha coefficients ranging from 0.733 to 0.909 indicating excellent internal consistency. Data was analysed using descriptive and multiple regression analysis to test the hypothesized relationships. The results and findings show that IPSAS adoption had a positive and significant effect on Compliance with Financial Reporting Requirements (CMFR) for hypothesis one (Adj R 2 = 0.713, F(4, 345) = 6.898, p < 0.05). IPSAS adoption had a positive and significant effect on Transparency of Financial Reporting (TRFR) for hypothesis two (Adj R 2 = 0.723, F(4, 345) = 2.682, p < 0.05). From the findings and results, the study concluded that IPSAS adoption has a significant effect on financial accountability in LGAs in Ogun State.The study however recommended that local government authorities institutionalize continuous IPSAS training programs for accounting personnel, enforce strict compliance mechanisms, automate accounting processes to ensure timeliness and enhance the public dissemination of financial reports to foster transparency and public trust.

This study evaluates the influence of corporate social responsibility reporting on firm performance as captured via their net profit margin and return on assets over the study period of 2012 to 2022. The study employed the stationarity test because of its statical properties, the panel regression test in its pooled random and fixed effects variants, followed by the co-integration test, error correction model and stacked granger causality test that analyzed causal relationship between relevant variables. The research employed secondary data which were  obtained from annual report of quoted oil and gas companies to test seven hypotheses related to community development costs, human capacity development costs, employee benefit costs, and firm size. The findings reveal a significant positive relationship between community development costs and net profit margin, emphasizing the impact of strategic investments in community development on profitability. However, no significant relationship is found between community development costs and return on asset. Human capacity development costs did not exhibit a significant relationship with either net profit margin or return on asset. Notably, a negative relationship is identified between employee benefit costs and net profit margin, prompting recommendations for careful management of benefit programs. Firm size positively moderates the relationship in the net profit margin model, indicating potential advantages for larger companies, while its impact on return on asset is not statistically significant. Therefore, the study advises decision-makers to act towards optimizing resource allocation, fostering sustainable community development, and maintaining a balanced approach to employee benefits.