Title: RELEVANCE OF ACCOUNTING ETHICS IN PREPARING A RELIABLE ACCOUNTING REPORT OF MANUFACTURING FIRMS IN ANAMBRA STATE, NIGERIA
Authors:
Okudo, Chijioke Louis, Amahalu, Nestor Ndubuisi, Obi Juliet Chinyere, and Okafor, Obumneme Obiora
Abstract:
The broad objective of this study is to investigate the relevance of accounting ethics in preparing a reliable accounting report. The study specifically seeks to ascertain the extent of influence of accounting ethics on disclosure of information in financial reports of manufacturing companies in Anambra state; evaluate the extent to which accounting ethics relate to integrity of financial report of manufacturing companies in Anambra state; identify the extent to which accounting ethics relate to objectivity of financial report of manufacturing companies in Anambra state. Primary data was used for the study. The data were sourced from questionnaires administered to respondents The study adopted correlational survey design. The population was seventy drawn from fourteen manufacturing companies in Nnewi metropolis, Anambra State. The determined sample size was fifty-four. Validity and reliability of the instrument were tested. Pearson Product Moment correlation was used to test the hypotheses with the aid of SPSS version 20. The findings revealed that there is a significant influence of accounting ethics on disclosure of information in financial reports of manufacturing companies in Anambra state at 5% significance level; there is a significant relationship between accounting ethics and integrity of financial report and there is a significant relationship between accounting ethics and objectivity of financial reports at 5% significant level. The study concludes that high ethical standard is fundamental in achieving an objective, reliable and transparent financial report. It was recommended that Firms reporting structure should adhere strictly to the financial reporting framework issued by the International Financial Reporting Standards for better and more acceptable financial reports.
Keywords: Accounting Ethics, Financial Disclosure, Objectivity, Integrity.
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