Strategies for Improving the Effectiveness of Accounting Systems in Financial Reporting in Tertiary Institutions in Delta State

Résumé

This study examined strategies for improving the effectiveness of accounting systems in financial reporting in tertiary institutions in Delta State. Two research questions and two null hypotheses guided the study. A descriptive survey research design was adopted with a population of 245 accounting officers drawn from public tertiary institutions in the state. A sample of 145 accounting officers was selected using simple random sampling technique. Data were collected using a researcher-developed instrument titled Improving the Effectiveness of Accounting Systems in Financial Reporting Questionnaire (IEASFRQ). The instrument was validated by three experts. Out of 145 copies of the questionnaire administered, 111 copies were correctly completed and returned for analysis. Mean and standard deviation were used to answer the research questions, while independent t-test was used to test the hypotheses at 0.05 level of significance. The findings revealed that internal control mechanisms significantly improve the effectiveness of accounting systems in financial reporting; staff professional development enhances accounting system effectiveness. Furthermore, there was no significant difference in the mean ratings of accounting officers based on years of working experience regarding the role of internal control mechanisms (p > 0.05). However, a significant difference existed in the mean ratings of respondents on the influence of staff professional development based on educational qualifications (p < 0.05). The study concluded that effective internal control mechanisms and continuous staff professional development are essential for improving the effectiveness of accounting systems and enhancing the quality of financial reporting in tertiary institutions. It was recommended that management of tertiary institutions should strengthen internal control mechanisms through regular audits, segregation of duties, and account reconciliation procedures, while also providing continuous professional training and development opportunities for accounting personnel to improve their competence and effectiveness in financial reporting.

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