Influence the Quality of Accounting Information Systems and the Effectiveness of Internal Control on Public Financial Reporting Quality; an Empirical Sturdy
Journal Title: International Journal of Multidisciplinary Research and Analysis - Year 2021, Vol 4, Issue 2
Abstract
There is a growing concern over the public financial management practices including financial reporting of governments. People's concern over more productive public resource utilization has flourished. Not only that, transparency, accountability, and openness of public money utilizations have become more common. Financial reporting is a key leading instrument that is able to prove both ideas. The requirement stimulates governments to concern about the quality of financial reporting in the public sector. The government of Sri Lanka has already taken several steps to strengthen their public financial reporting while there are still being criticisms by critical interest parties. The situation creates a drought over the effectiveness and the direction of the initiatives. Based on the public financial reporting environment in Sri Lanka, the research investigates the determining factors of Public Financial Reporting Quality (PFRQ). Scholars acknowledge the influence of the Accounting Information System (AIS) and Internal Control (IC) to determine the PFRQ in different organizational environments. A questionnaire survey seeking opinions on these two areas was distributed to a sample of Accountants working in the central government ministries and departments in Sri Lanka. The results reveal the strong contribution of AIS and IC to enhance the PFRQ. The results further acknowledge the findings of previous scholars over the positive influence of AIS and IC to determine the FRQ. These findings contribute to the literature by analyzing the determinants of financial reporting quality in the public sector. Finally, it is recommending to the government of Sri Lanka to take steps to strengthen their public financial reporting in a correct and more influential direction.
Authors and Affiliations
Mayadunnege Senaka Anuruddha, Prof. Prathiba Mahanamahewa
Keywords
Related Articles
- EP ID EP692452
- DOI 10.47191/ijmra/v4-i2-09
- Views 200
- Downloads 0
The Hydromythological Perspective in Literature on Tuk Bima Lukar: the Source of the Serayu River
Water is not only used for basic life needs such as drinking, bathing, cooking, and washing but also for irrigation and other needs, as it is a source of life. In Javanese society, there are many myths related to water,...
Faculty Members' Experiences in Internationalization of the Curriculum in Higher Education Institutions: A Case Study of the Zambian Open University
The purpose of this study is to explore faculty members’ experiences in internationalisation of the curriculum in higher education institutions at Zambia Open University (ZAOU). The study took a mixed method approach. Th...
Gender Differences in Mental Health of International Graduate Students
The study investigated the mental health concerns, mental health states, and help-seeking behaviors of international graduate students by gender. Ninety-two respondents accomplished an online survey. The males’ main conc...
Prudential Principles by Banks in Granting Credit Based on Notarial Cover Notes
Banking institutions the financial institutions that have a function as a financial intermediary. Banks serve financial necessity and introduce deposit system mechanisms for all economic sectors. This research examines t...
Archaeological Research is an Important Source in the Study of Traditional Economic Activities of the Uzbek People (On the Example of SomeResearchers of the Twentieth Century)
This article discusses archeological research as an important source (on the example of some researchers of the twentieth century) in the study of traditional economic activities of the Uzbek people. Historical analysis...