Recognition and Measurement Principles of Accrual-Based IPSAS and Quality of Corporate Reporting by Government Owned Entities in Nigeria

Purpose: Quality corporate reporting is a key pillar in achieving transparency, accountability, openness, public trust and better decision making among stakeholders. This study examined the impact that accrual-based International Public Sector Accounting Standards (IPSAS) has on the quality of corporate reporting by government owned entities in Nigeria with specific focus on the effect that recognition and measurement principles have on the quality of reporting.Methodology: The study utilized primary data which was obtained through the administration of structured questionnaire to two hundred and forty-four (244) employees of Federal Inland Revenue Service personnel, Lagos office station. A multiple linear regression model was employed to analyze the data.Results: The result of the t-test revealed that the guidance for measurement of assets and liabilities, comparability of financial statements and recognition and measurement components under the accrual-based IPSAS significantly contribute to the quality of corporate reporting in government entities in Nigeria.Practical Implications: The study identified assets management as a key advantage of the accrual-based IPSAS. Therefore, public entities are expected to maintain assets registry for assets that meet the recognition criteria, as this is instrumental to accountability in asset management, and it is crucial for quality corporate reporting by government entities.Originality: There is an apparent dearth of empirical studies on the recognition and measurement principles of accrual-based IPSAS, and this is the focus of the current study.Keywords: Recognition, Measurement, IPSAS, Corporate Reporting, Government, EntitiesDOI: https://doi.org/10.58869/EJABM10(3)/05