Western accounting reforms and accountability in wealth redistribution in patronage-based Nigerian society.

Bakre, Owolabi; Lauwo, Sarah George; McCartney, Sean

Abstract

The purpose of this paper is to investigate the claim that Western accounting reforms - in particular the adoption of International Public Sector Accounting Standards (IPSASs) - would enhance transparency and accountability and reduce corruption in patronage-based developing countries such as Nigeria. The paper utilises the patron/clientelism framework to examine the dynamics of Western accounting reforms in the Nigerian patronage-based society, in which the institutions of governance and regulatory structures are arguably weak. The paper utilises archival data and interviews conducted with representatives of state bodies (elected politicians and officials) and professional accounting associations. Results from two major reforms (the sale of government-owned residential properties in Lagos and the monetisation of fringe benefits for public officials) are presented. Despite the claim of the adoption of Western accounting standards - and in particular IPSAS 17, which requires full accrual accounting and the utilisation of fair value in property valuation - historical cost accounting appeared to have been mobilised to massively corrupt the process for the benefit of politicians, other serving and retired public officials, and family members. This study contributes to the current literature by providing evidence of the relationship between patronage, corruption and accounting in wealth redistribution in the patronage-based Nigerian socio-political and economic context.

Citation

BAKRE, O., LAUWO, S.G. and MCCARTNEY, S. 2017. Western accounting reforms and accountability in wealth redistribution in patronage-based Nigerian society. Accounting, auditing and accountability journal [online], 30(6), pages 1288-1308. Available from: https://doi.org/10.1108/AAAJ-03-2016-2477

• Journal Article Type: Article
• Acceptance Date: Apr 26, 2017
• Online Publication Date: Aug 21, 2017
• Publication Date: Sep 30, 2017
• Deposit Date: Mar 19, 2024
• Publicly Available Date: Mar 19, 2024
• Journal: Accounting, Auditing and Accountability Journal
• Print ISSN: 0951-3574
• Electronic ISSN: 2051-3151; 1758-4205
• Publisher: Emerald
• Peer Reviewed: Peer Reviewed
• Volume: 30
• Issue: 6
• Pages: 1288-1308
• DOI: https://doi.org/10.1108/AAAJ-03-2016-2477
• Keywords: Corruption; Patronage; Accounting; Nigeria
• Public URL: https://rgu-repository.worktribe.com/output/2278635