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INTEGRATED FINANCIAL MANAGEMENT INFORMATION SYSTEM AND FRAUD INVESTIGATION IN NIGERIAN PUBLIC SECTOR

Volume: 99  ,  Issue: 1 , April    Published Date: 25 April 2022
Publisher Name: IJRP
Views: 62  ,  Download: 24 , Pages: 222 - 236    
DOI: 10.47119/IJRP100991420223066

Authors

# Author Name
1 Izang, J.U
2 Owolabi, S.A
3 Odunlade, O.A

Abstract

Integrated financial management information systems (IFMIS) are systems that assist budgetary, financial, and accounting processes in the public sector and encourage improved public financial management (PFM) by providing a centralized registry of revenues and expenditures and in the process of fraud investigation it provides accurate information to work with however, according to previous literature, ineffective public financial management has resulted in the implementation of various reforms.The study examined the effect of integrated management information system on fraud investigation in Nigerian public sector. One hundred and thirty-seven (137) copies of questionnaires were distributed to government personnel in the designated agencies as part of the study's survey design and one hundred and thirty-three (133) were returned. The data was analysed using descriptive and inferential (Multiple regression) methods. The result of the finding integrated financial management information has significant effect on fraud investigation in Nigerian public sector. Adj. R2= 0.58, F- statistics 30.880, P- value >0.000. The study concluded that integrated financial management information system has significant effect on fraud investigation. The study recommended that the government should guarantee that fiscal transparency is encouraged across the system in order to ensure active public and government engagement. The efficient implementation of an IFMIS will result in timely, relevant, and reliable financial data, encouraging fiscal discipline, assisting resource allocation, and increasing operational efficiency and fiscal transparency.