EFFECTS OF INTEGRATED FINANCIAL MANAGEMENT INFORMATION SYSTEM ON PERFORMANCE OF PUBLIC SECTOR IN NIGERIA

  • Oyinlola, Olabisi Michael Department of Accountancy, Osun State Polytechnic, Iree
  • Folajin, Oyetayo Oyewale Department of Accountancy, Osun State Polytechnic, Iree
  • Balogun, Jimoh Oladosu Department of Accountancy, Osun State Polytechnic, Iree
Keywords: Integrated Financial Management Information System, Performance

Abstract

The purpose of this study is to analyse the effectiveness of Integrated Financial Management Information System (IFMIS) on performance of public sector in Nigeria. Public finance management has come under immense scrutiny by donor community as well as general public in a call for enhanced accountability of the government expenditures for an improved public service delivery. To analyse the effectiveness of identified factors on the use of the system, descriptive and inferential statistics were used. The sample size was drawn from the sections of finance department that includes, budgeting, procurement and internal audits, and at public works department where the financial systems are applied. The study revealed that there was a positive relationship between the effectiveness of IFMIS on public financial management and the independent variables; financial reporting, budgeting, internal controls and projects as was revealed in the regression analysis. The study concluded that there was a relationship between IFMIS in public finance and financial reporting, budgeting, internal control and government projects as 72.4% of the effectiveness of IFMIS was accounted for by the study independent variables. The relationship gave 95% confidence level of effectiveness. The study recommended that the IFMIS be enhanced and improved at system development level so that it gives real figure and factor in more functions of operation linked to financial service for better service delivery.

Downloads

Download data is not yet available.

References

Allan, W. & Hashim A.(1999). Core Functional Requirements for Fiscal Management Systems. International Monetary Fund, Washington DC.

Barry, H.& J. Diamond (2004). Guidelines for Public Expenditure Management, International Monetary Fund, Washington DC.

Bill (2001). Case study research: Design and methods (2nd ed.). Beverly Hills: Sage Publishing, New Delhi.

Chena (2009). Computer Networks; First Edition; New York Press, New York

G0ll. (2003). Design and Implementation of Financial Management Systems: An African Perspective. Africa Region Working Paper Series No. 25

Hopelain, D.G. (2004). The Structure of Information Systems Design; Five Axioms for the Management of Systems Development. T.M.Belbelmans (Ed) “Beyond Productivity Information Systems Development for Organizations Effectiveness” Esleiver Science Publishers, Amsterdam.

Jack & Khemani (2005). Introducing Financial Management Information Systems in Developing Countries, IMF,Washington DC. DOI: https://doi.org/10.5089/9781451862157.001

Kang’ethe, P.M. (2002). ICT in Learning institutions. First Edition; Longman Publishers, Nairobi, Kenya.

Kearney & Dally (2004). Development of model in financial time series management, GARCH Model, New York Stock Exchange, New York.

Kerlinger & Fred N. (1973). Foundations of Behavioral Research. Winston, New York.

Kinyua, J.K. (2003). Kenya Economic Survey. Ministry of Finance, Nairobi, Kenya.

Soh, J.P. (2007). Database management systems. Third Edition; Mombay, Indian Press, Mombay.

USAID (2008). IFMIS A Practical Guide. http://pdf.usaid.gov/pdf_docs/ PNADK595.pdf)

World Bank (1999). Public Expenditure Management Handbook: World Bank, Washington DC.

Published
2017-07-31
How to Cite
Michael, O., Oyewale, F., & Oladosu, B. (2017). EFFECTS OF INTEGRATED FINANCIAL MANAGEMENT INFORMATION SYSTEM ON PERFORMANCE OF PUBLIC SECTOR IN NIGERIA. International Journal of Engineering Technologies and Management Research, 4(7), 32-39. https://doi.org/10.29121/ijetmr.v4.i7.2017.89