Financial Control And Accountability In Public Sector

Public financial control and accountability is not new phenomenon. It is as old as man in his social relationship with his fellow man. This is so because in ancient time, the accounts of an estate or manor were examined by reaching them out by those who complied them. To the persons in authority. Therefore, there were elements of answerability in government. This study has been embarked upon because of some problems inherent in the public sector that has hinted effective and efficient financial control and accountability. These problems were captured in the introduction part of this work and they are as fellow, late finalization and publication of accounts and poor keeping of internal accounting records, inconsistent audit of account inability to conform to financial regulations, excessive authorization of responsibility and lackluster attitude to collection of debt and revenue.

In the course of investigation these problems questionnaire were used in collecting the data for analysis. From the analysis of the data, the following findings were made.

a. There is a system of financial control and accountability in Imo state ministry of finance Owerri but the system is not effective.

b. Resource are allocated in this system but its optimality will reduce the rate of ineffectiveness based on the above findings, the researcher conclude that financial control and accountability will be effective and efficient if pattern of government expenditure or resource allocation and effective accounting information are productively channeled therefore, the following recommendations are made

1. Review of internal control system
2. Recruitment, training, implementation of workers condition.
3. Legislation and implementation of positive for publication and finalization of accounts.
4. Independence and individual responsibility.

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