Healthcare Policy and Development: The Effect of International Public Sector Accounting Standards (IPSAS) on the Financial Development of Federal University Teaching Hospitals

Abstract

Background: Globally, healthcare development faces numerous challenges; emerging economies, particularly those in Africa, appear to  be worse off as a result of institutional regulatory weaknesses, infrastructural inadequacies, and system failures. These issues contribute to financial fraud, lack of efficient financial control, and weak financial reporting systems.

Objectives: The objective of the study is to determine the impact of International Public Sector Accounting Standards (IPSAS) on the  financial development of the federal university teaching hospitals in Nigeria.

Method: The study adopted a descriptive research design. A sample size of 70 was used, and linear regression was employed to model  and predict the relationship between the dependent variable and the independent variables.

Results: The results of the analysis indicate that International Public Sector Accounting Standards (IPSAS) have a significant positive  impact on fraud prevention, with an impact of 51.8%. Additionally, the results show that IPSAS significantly positively affects financial  control, with an effect of 48.2%. Finally, the analysis reveals that IPSAS has a significant positive impact on the quality of financial  reporting, with an effect of 31.1%.

Conclusion: The study concludes that appropriate authorities should make a concerted effort to  strengthen the adoption of IPSAS in Nigerian federal university teaching hospitals through regular reviews and staff training. Governments at all levels should ensure IPSAS is fully domesticated and properly implemented in all areas of healthcare management.