USING GAAP IN DETERMINING THE ACCOUNTABILITY AND TRANSPARENCY IN FIGHTING AGAINST CORRUPTION IN AN AFRICAN UNIVERSITY

Abstract

The study assessed the use of GAAP in determining the accountability and transparency in fighting against corruption in an African university. Three research questions guided the study. The study was carried out in the University of Nigeria, Nsukka. The population was 104 respondents. The entire population was used and simple random sampling was used to select 76 staff of Bursary Department and 32 staff of Business Education Department. The study adopted descriptive survey design. The instrument for the study was structured questionnaire designed by the researchers. The questionnaire was validated by experts, while the internal consistency of the questionnaire items was ascertained through Cronbach Alpha technique which yielded a reliability coefficient of 0.86. The questionnaire was administered personally by the researchers. A total of 104 copies of the questionnaire were administered, retrieved, analyzed and used for the study. Based on the data analyzed, the study found that the level of corruption in University of Nigeria was high, the extent of utilization of GAAP in fighting corruption was low and the application of GAAP was generally not effective in fighting corruption in the University of Nigeria, Nsukka. Hence, the study recommended that: the University authority should insist on the full implementation of financial reporting to enhance transparency and accountability in the University community; individuals that break the principles of GAAP needed in fighting corruption should be sanctioned or prosecuted so as to serve as a deterrent to others. The research also recommended that the federal government should employ individuals to strictly monitor the activities of the Bursary Department to ensure that transparency and accountability are strictly adhered to and lecturers in universities should be given grants to encourage them engage in GAAP research so as to ascertain strategies for improving on it.