Assessment of Enhancing Transparency of Financial Statements

Viswa Nadham N.


The study explored both the advantages of transparency and challenges facing finance departments of local government authorities in the course of preparing and presenting financial information. 

The study employed an explanatory case study,cross-sectional survey  and applied a triangulation of methods to collect both qualitative and quantitative data. The participants were all selected based on the opportunity to learn and the typicality of Dodoma municipality. A total of 80 respondents were involved. Data analysis was done through SPSS. Figures, tables, pattern matching, comparison and strong explanation building all aided in simplifying the analyses of findings.

Key findings of the study unveiled that participation of the public in finance affairs of local governments heightened transparency in the preparation and presentation of financial statements. Furthermore, the finding reveal that International Finnancial Report Standards (IFRS) was rarely applicable during  the preparation of financial statement. It was also found out that tansparency in financial matters reduced fraudulent behaviours in the allocation and expenditure of local government funds.

Key words: Financial statements, IFRS, IAS, Financial transperancy.

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Copyright (c) 2016 Viswa Nadham N.

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International Journal of Accounting and Financial Reporting  ISSN 2162-3082

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