ACCOUNTING SYSTEM AND FINANCIAL REPORTING QUALITY OF MICROFINANCE BANKS IN KWARA STATE, NIGERIA

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dc.contributor.authorAlabi Fatai Zakariyau
dc.contributor.authorAbdulrasaq Mustapha
dc.date.accessioned2024-07-31T13:18:13Z
dc.date.available2024-07-31T13:18:13Z
dc.date.issued2021-06-14
dc.description.abstractThe continuous reported cases of closure of microfinance banks in various States of Nigeria by the regulatory authority has raised serious concerns on the quality of information in the financial reports of microfinance institutions. This may not be unconnected to the nature of accounting system put in place to track the economic reality that constitutes the content of financial reports. Expectedly, optimal accounting system is to guarantee the quality of financial reports but going by the rate of scandal among microfinance banks which should have been revealed in their financial reports, the level at which optimal accounting system is been deployed among microfinance banks need to be empirically investigated. Therefore, this study examined the effect of accounting system on the quality of financial reports of microfinance banks in Kwara State, Nigeria. The study employed a cross-sectional survey research design. The primary data collected through the questionnaire administered to four hundred and seven (407) respondents from all micro-finance banks in Kwara State were analysed using ordinary least square (OLS) regression. The study found that accounting staff competence, Information Technology and internal control system have positive and significant effect on the quality of financial reports of microfinance banks in Kwara state. These findings imply that the extent to which management of microfinance banks deploy competent accounting staff, maintain effective internal control and information technology utilization explain variations in their financial reports. In view of these findings, this study recommends that management of microfinance banks should pay attention to the level of investment deployed to various components of accounting system in order to be consistently producing reliable and relevant financial reports.
dc.identifier.urihttps://www.nijafmautech.com
dc.identifier.urihttps://kwasuspace.kwasu.edu.ng/handle/123456789/2080
dc.language.isoen
dc.publisherNigerian Journal of Accounting and Finance
dc.relation.ispartofseries13; 1
dc.titleACCOUNTING SYSTEM AND FINANCIAL REPORTING QUALITY OF MICROFINANCE BANKS IN KWARA STATE, NIGERIA
dc.typeArticle
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