ASSESSMENT OF THE CONTRIBUTION OF SUPPREME AUDIT INSTITUTION TO BUDGET CREDIBILITY IN THE NIGERIA PUBLIC SECTOR

Abstract

The level of accountability is very poor in Nigeria because the attributes of convenience, completeness, and so on are completely not available or partially available for the citizens to assess the performance of public officers and also the management of public funds in terms of how public office holders give accountability report of their stewardship. This paper assessed the contribution of Supreme Audit Institution to Budget Credibility in the Nigeria Public Sector in year 2023. A sample of 83 staff of Ministrial Audit Department and Programme and Performance Audit Department in the Office of Auditor General for the Federation was determine using Krejcie and Morgan approach. The paper employed both questionnaire and interview instruments to collect data. The data collected were analyzed using Multiple Linear Regression model and content analysis. Findings of the study revealed that there is a positive and significant relationship between Auditing Standard (AS) and Budget Credibility (BC) at 5% level of significance in the Nigeria public sector. However, there is positive but insignificant relationship between Timely Auditing (TA) and Budget Credibility (BC) at 5% level of significance in the Nigeria public sector. Therefore, the paper recommends that the Office of Auditor-General for the Federation should embrace the use of ICT IT, staff training and re-training, staff welfare, adequate and skilled manpower, as well as adequate funding.