Analysis Of The Performance Of Institute Of Chartered Accountants Of Nigeria (ICAN) Personnel In Public Institutions In Abia State

ABSTRACT

In Nigeria, accounting in public institutions is properly planned within the cycle of financial management which is organized around laws, rules, regulations, and processes. According to Mbah (2009), public sector accounting system flows in a definite system from the enabling legal instruments that gives rise to transactions and bounding off from the reports that form basis for auditing, investigating and legislative review, back to a continuous enactment of further legal instruments. Accounting in the public institutions is a process of recording, communicating, summarizing, analyzing and interpreting government financial statement in aggregates and details. This reflects all levels of transaction involving the receipts, custody and the disbursement of government funds and resources (Adams, 2010). In a nutshell, public sector accounting (government accounting) involves the recording and presentation of government financial transactions to comply with statutory requirement as well as assist the management in efficiently utilizing the government funds.