ACCOUNTING CONTROL MECHANISM AND PUBLIC EXPENDITURE OF NIGERIAN PARASTATALS: AN EMPIRICAL STUDY OF AKWA IBOM STATE BROADCASTING CORPORATION

The aim of this study was to examine Accounting Control Mechanism and Public Expenditure of Nigerian Parastatals: An Empirical Study of Akwa Ibom State Broadcasting Corporation. ex-post facto research designs were adopted in the study. The population consisted of 25 staff of Akwa Ibom Broadcasting Corporation, Akwa Ibom State. Primary and secondary methods of data collections were used in gathering relevant data for this research work. The primary source adopted was the used of administered questionnaire while the secondary source adopted was the use of financial summary from Akwa Ibom Broadcasting Corporation. Judgmental sampling technique was used to select a sample size of (25) respondents for the study as determine using Taro Yamane formula. Data were collected, coded and analyzed. Percentages and frequency tables were used to analyze the responses from respondents. The hypothesis was tested using the simple linear regression. Findings revealed that the effect of detective control on revenue of public expenditure are followed rigorously, accounting control typically involve a system of approval and authorizations for capital expenditure request and accounting control mechanisms includes: financial reporting and transparency, depreciation and amortization, budget and planning. It was recommended that standards should be set for measurement of performance and the bases of monitoring and evaluation should be set clearly. Detailed and continuous monitoring and evaluation should be performed throughout the year. This will enhance the accounting control and value of money.