THE IMPACT OF IPSAS COMPLIANCE ON FINANCIAL DISCLOSURE AND REPORTING QUALITY IN PUBLIC UNIVERSITIES IN RIVERS AND BAYELSA STATES, NIGERIA.

This study investigated public sector accounting standards adoption and quality of financial reporting in higher institutions in Rivers and Bayelsa States, Nigeria. The study adopted survey research design. The study population consisted of all public higher institutions in both states and a sample size of three hundred and twenty (320) was utilized for the study. Primary and secondary sources of data were employed while univariate and multivariate analysis were used for data analysis. The multivariate analysis revealed that Pre – and Post- IPSAS adoption has no significant difference in the financial reporting of relevance while faithful representation, understandability, timeliness, verifiability and comparability has significant differences in the Pre- and Post-IPSAS adoption periods in the higher institutions in Rivers and Bayelsa State. The study concluded that Pre- and Post-IPSAS periods has no significant influence with relevance of higher institutions in Rivers and Bayelsa States; Both Pre- and Post-IPSAS adoption period has significant difference in influencing faith representation of higher institutions in Rivers and Bayelsa States; Both Pre- and Post-IPSAS adoption period has significant difference in influencing understandability of higher institutions in Rivers and Bayelsa States; Both Pre- and Post-IPSAS adoption period has significant difference in influencing timeliness of higher institutions in Rivers and Bayelsa States; and both Pre- and Post-IPSAS adoption period has significant difference in influencing verifiability of higher institutions in Rivers and Bayelsa State. Hence the study recommended amongst others that public sector entities should adopt both Pre-IPSAS and Post-IPSAS principles in preparing financial reporting quality in term of faithful representation because this study affirmed that both Pre and Post IPSA has significant difference in the financial reporting in term of faithful representation.