Microsoft Word - UPLOAD TO ME HASSAN GUJAF VOL 6 ISSUE 2 APRIL MR HASSAN 2222[1] Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 242 CASH MANAGEMENT POLICIES AND ACCOUNTABILITY AMONG FEDERAL MINISTRIES, DEPARTMENTS, AND AGENCIES IN ONDO STATE, NIGERIA Adesanmi Timothy Adegbayibi Department of Accounting, Faculty of Administration and Management Sciences, Adekunle Ajasin University Akungba-Akoko, Ondo State, Nigeria adesanmi.adegbayibi@aaua.edu.ng; https://orcid.0rg/0000-0002-6330-2976 +2348030572602 , Toyin Emmanuel APEKO Department of Accounting, Faculty of Administration and Management Sciences, Adekunle Ajasin University, Akungba-Akoko, Ondo State, Nigeria https://doi.org/10.57233/gujaf.v6i2.16 , Abstract Cash misappropriation allegations have rocked the public sector, and this has continued to threaten the accountability obligation of the government. To redeem their image, governments have continued introducing policies to reduce financial leakages and promote accountability in the management of public funds. This study, therefore, investigates the effect of cash management policies on accountability in federal Ministries, Departments, and Agencies (MDAs) in Ondo State, with a focus on policies such as the treasury single account system, the government integrated financial management information system, and the integrated personnel payroll information system.The study employed a primary data method through the administration of a questionnaire. The study adopted a survey research design to obtain information. The population of the study consists of 385 directors and heads of federal ministries, departments, and agencies in Ondo State with a sample size of one hundred and fifty (150) directors and heads of MDAs, which were selected using a purposive sampling technique because data for the study were directly obtained from the targeted respondents. The data were analyzed using descriptive statistics such as kurtosis, skewness, median, mean, standard deviation, and ordinary least square regression. The study's findings revealed that a treasury single account with a coefficient of 0.5703 and a p-value of 0.0000 positively affected accountability, and increased transparency led to an increase in federal MDA compliance. Government integrated financial information systems with a coefficient of 0.7115 and p-value of 0.0000 measures for cash management policies had a significant effect on accountability, and integrated personnel payroll information systems with a coefficient of 0.6301 and p-value of 0.000 positively impacted accountability.The study concluded that the treasury single account, government integrated financial information system, and the integrated personnel payroll information system significantly influence accountability. The study recommended that government authorities maintain treasury single account policies to increase government revenue because they have positively affected accountability. Also, several measures towards developing sound, effective and efficient government policy on TSA must be implemented in tandem with the Government Integrated Financial Management Information System (GIFMIS), Integrated Personnel Payroll Information System (IPPIS) for a sound public sector accounting system. Keywords: Cash management policies, treasury single account, government integrated financial management information system, integrated personnel payroll information system, and accountability 1.0 Introduction Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 243 Public Accountability is at the heart of good public sector governance. Without accountability, democracy may regress to something that is nothing more than a constitutional pretense, where public officials refuse to be accountable for the management of public goods (Ocheni & Basil, 2012). The government is integral in generating income and distributing public funds for citizens' social and economic needs. Nevertheless, in many developing countries, particularly Nigeria, public fund management and reporting remain challenged in ensuring a smooth reporting process and effective government accountability. Large-scale financial losses have arisen from mismanagement and misappropriation of finances in Nigeria (Bello, 2001). Appah and Appiah (2010) also emphasized the ubiquity of fraud in different sectors of the Nigerian public sector. Adequate cash management is crucial to solving such problems (Okoh & Ohwoiyibo, 2010). Cash management in the public sector includes the reduction of idle cash balances, correctly applying surpluses, and promptly settling financial commitments (Jyothi, 2010). Where a sound cash management system is introduced, transparency, fairness, and honesty are ensured, which are key to establishing accountability among governing bodies. Nigeria's federal government has been trying to manage its cash by introducing policies and programmes. It is, however, observed that the viability of any cash management policy depends mainly on its ability to promote accountability. As part of an effort to encourage cash management, the Nigerian government introduced the Treasury Single Account (TSA) system. The system stated that all revenues of the government shall be collected from a single account maintained by the Central Bank of Nigeria (CBN). The policy has been chronicled on the fact that accounts were scattered all over the ministries, departments and agencies, making it impossible for the government to establish the numbers of accounts and balances in those accounts (Kanu, 2016). This led to pockets of idle cash balances held in ministries, departments and agencies’ accounts while the government was out borrowing money. This was done to help the government reduce cash wastage, misappropriation, corruption, etc., and also to help the government have a full knowledge of its total cash in making adequate planning and spending effectively (Igbekoyi & Agbaje, 2017; Mboto, Offiong & Ibor, 2017). The treasury single account is a unified structure of government accounts that enablesthe consolidation of optimal utilization of government cash resources (Ndubuaku, Ohaegbu & Nine, 2017). From the description of the process of the TSA policy, it is widely believed that establishing will help improve public sector cash management and promote accountability. There is a need to investigate if this government expectation has been met in this regard, as this is the only way to justify the government's effort. In cash management, the Federal government is primarily loaded with its personnel costs, as it is an area prone to misappropriation. The integrated personnel payroll information system (IPPIS) was introduced to further manage this area. The process provides a platform for electronic application to capture and compute employee emoluments. This is to improve the effectiveness and efficiency in managing its staff records to eliminate misappropriation and false wage claims (Aladetanye, 2021). In introducing this policy, these expectations are to ensure transparency and accuracy in government staff records and reduce excess spending on personnel costs. Similarly, the government integrated financial management information system (GIFMIS) was introduced to control government expenditure. This system involves the computerization of the Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 244 government expenditure approval and execution process that helps the government monitor the spending activities of its ministries, departments and agencies through a unified channel. The adoption of the Federal government'snew policies has improved cash management and accountability. In particular, the Treasury Single Account (TSA) framework combines all government revenue into a common account with the Central Bank of Nigeria (CBN). This policy focuses on the shortcomings of fragmented accounts between ministries, departments, and agencies (MDAs) to minimize cash wastage, misappropriation, and corruption, all while improving resource planning and use (Kanu, 2016; Igbekoyi & Agbaje, 2017). The Federal government implementedthe Integrated Personnel Payroll Information System (IPPIS)to automate payroll, eliminate false wage claims, and improve human resource cost rationalization (Aladetanye, 2021). On the other hand, the Government Integrated Financial Management Information System (GIFMIS) has largely automated the expenditure approval and management processes to properly implement monitoring processesto oversee the financial activities of MDAs effectively. These policies, in total, seek to enhance cash management and transparency in the public administration field. Nonetheless, the degree to which those policies have attained their objectives is unclear. The government has tried to curtail the wave of financial misappropriation by introducing policies to enhance its cash management capabilities. The policies include the TSA, IPPIS, GIFMIS, among others. With the introduction of the policies, in Nigeria, various scholars have contributed to the effectiveness of the policies and the ability to achieve the government's stated mandate from various perspectives. In the case of the Treasury Single Account, Ahmed (2016) studied the ability of TSA to serve as an instrument of financial prudence; Bashir (2016) assessed its effect on public finance management; Ekubiat and Ime (2016) examined the challenges and prospects of its adoption. Other studies considered the impact of the policy on various sectors' indices of the economy (Ndubuaku, Ohaegbu & Nina, 2017; Igbekoyi, 2022; Ogbonna, 2018; Olaoye, 2019; Igbekoyi & Agbaje, 2017). Although these studies adequately addressed their area of focus, most did not expressly consider the accountability function of government, especially as it relates to the transparency in government dealings. Therefore, it is necessary to determine if adopting the TSA system has helped the government be more transparent in its financial dealings. In respect of IPPIS and GIFMIS, existing studies evaluated the ability of the IPPIS introduced by the government to promote accountability, but the majority of the studies centered on the elimination of false wage claims and ghost workers and the reduction of personnel cost (Aladetanye, 2021; Enakirerchi & Temile,2017; Amahalu, Okoye & Okoye, 2016). Evidence from these studies revealed that the IPPIS policy has vastly reduced false wage claims and ghost workers; however, there is a need to investigate the policy's transparency potential. This is because the accountability potential of a government is beyond cost reduction or cost effectiveness, but the extent to which the government can promote transparency and fairness in its operating process. There is a need to investigate if the IPPIS policy can promote accountability in Nigeria's federal ministries, departments, and agencies. Evidence from studies conducted in Nigeria on cash management policies from individual evaluation of these policies has been reviewed from the performance perspective of the government in the context of the government's ability to reduce costs. The cost reduction Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 245 focuses on government financial performance, revenue generation, and cash handling. Studies have not considered accountability specifically from the context of government transparency. It has been established that the accountability function of government is a vital component of governance and the hub of democracy in any country. Based on this background, there is a need to investigate further if these government cash management policies have the potential to promote accountability (transparency), which is lacking in most studies. Also, existing studies have conducted a holistic view of the concept of cash management policies in Nigeria, a holistic assessment might not give a clearer picture of the individual performance of each segment of government. Based on this, this study evaluated the activities of MDAs in Ondo State. This will help to perform a more precise assessment of each government component's performance as an improvement to the generalised view of existing studies. The user can better explain the evaluation of a process than the policymakers. The study focused on the directors and Heads of departments of each MDA to harvest their direct views about the workability of the process. The sourcing of information from the players in the field further enhances the validity and reliability of the data collected. Based on the lingering problems of a lack of public confidence in the public sector despite the introduction of cash management policies in Nigeria, there is a need to investigate this further, apart from the cost savings ability of these policies, to what extent do they increase accountability in the federal MDAs, hence this study. The modus operandi of the cash management policies initiated by the government is expected to promote accountability. This is because it is likely that adopting these policies will help the government to account for its cash adequately and expend it to meet financial obligations. The challenge that will, however, be encountered is the inability of these policies to achieve their intended mandate. In the context of accountability, this study explores the performance of cash management policies in Nigeria's MDAs, with Ondo State as the case study. Therefore, there is a need to investigate the effect of these government cash management policies on the accountability of Nigeria's ministries, departments, and agencies (MDAs), with special focus on the MDAs located in Ondo State, as a case study. Several studies have been done on the treasury single account (TSA), the government integrated financial management information system (GIFMIS), and the integrated personnel payroll information system (IPPIS) on performance in both developed and developing economies. While in Africa, most especially in Nigeria, there is empirical evidence on the effect of cash management policies on accountability. Accountability is a vital component of governance because it shows the extent to which the government is answerable for its actions. The ability to answer accountability depends largely on government transparency, fairness, integrity, and trust. For any government to achieve these, it must implement a systematic procedure to authenticate its cash management process. Extant studies (Ndubuaku, Ohaegbu & Nina, 2017; Igbekoyi & Agbaje, 2017; Ogbonna, 2018; Olaoye, 2019; Igbekoyi, 2022) onTSA have been carried out in both the developed and developing economies, but most of the literature has focused on the impact of TSA and various sectors' indices of the economy. For instance, Ahmed (2016) studied the ability of TSA to serve as an instrument of financial prudence, Bashir (2016) assessed its effect on public finance management, Ekubiat and Ime (2016) examined the challenges and prospects of its adoption. Although these studies adequately addressed their area of focus, most did not expressly Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 246 consider the accountability function of government, especially as it relates to the transparency in government dealings. Most studies on IPPIS and GIFMIS (Aladetanye, 2021; Enakirerchi & Temile, 2017; Amahalu, Okoye & Okoye, 2016) centered on the elimination of false wage claims and ghost workers and the reduction of personnel costs. However, further investigation of the policy's transparency potential is needed. This is because the accountability potential of a government is beyond cost reduction or cost effectiveness, but the extent to which the government can promote transparency and fairness in its operating process. There is a need to investigate if the IPPIS policy can promote accountability in Nigeria's federal ministries, departments, and agencies. Also, existing studies have conducted a holistic view of the concept of cash management policies in Nigeria, a holistic assessment might not give a clearer picture of the individual performance of each segment of government. Based on this, this study evaluated the activities of MDAs in Ondo State. This will help to perform a more precise assessment of each government component's performance as an improvement to the generalised view of existing studies. The study has contributed to the frontier of knowledge by empirically establishing the effect of TSA, GIFMIS, and IPPIS on federal ministries, departments, and agencies (MDAs) accountability in Ondo State. Extant studies (Ahmed, 2016; Ekubiat & Ime, 2016; Ndubuakuet al, 2017; Igbekoyi & Agbaje, 2017; Ogbonna, 2018; Olaoye, 2019; Igbekoyi, 2022 have examined the impact of policy on various indices of the economy. This study considered the accountability function of the government, especially as it relates to transparency in the government's dealings. The potential for transparency in the policy is significant. This is because the accountability potential of a government is beyond cost reduction or cost effectiveness. 2.0 Literature Review Setiawan (2024) opined that accountability means responsibility for one's actions, decisions, and behaviors. Accountability entails accepting successes and failures and not shifting blame for bad actions. This is responsible for managing, tracking, and reporting financial resources accurately. In a broader sense, it will cover everything concerning openness in budgeting, spending, and financial decision-making concerning the public or non-profit sectors (Janny & Nurhastuty, 2024). Accountability addresses responsibility by an individual or team regarding being answerable for one's roles or results of work; it is also about transparency on progress, commitments met, and decisions to stakeholders or peers (Taiwom & Abayomi, 2011). Accountability is a system of checks and balances that makes sure persons, institutions, or entities carry out their duties and obligations, which means being held to standards, and mechanisms to conduct assessments of activities are in place to ensure compliance and address shortcomings or misbehavior (Ifeoma et al., 2022). Accountability implies liability or accountability to answer before the law for all those actions, the commission of which may entail punishment for acts considered illegal or against the rule of law. Cash Management Policies Cash management policies are concerned with the planning, organizing, procurement, and utilization of government financial resources as well as the formulation of appropriate policies to achieve the aspirations of members of that society; public financial management is the link Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 247 between the community’s aspirations and resources, and the present with the future (Larson, 2007). It lies at the heart of the government's operations and fiscal policy. Akinjrujomu et al. (2024) opined that cash handling is costly and risky for all the actors in the circulation chain. It is less dangerous and cost-effective for a merchant to take a debit or credit card than cash. It is good to note that cash is a valuable commodity that needs to be securely shipped from merchants to banks, with extra costs. With the least amount of idle cash used for other financial possibilities or investments, cash management rules guarantee the company has enough liquidity to cover daily expenses like paying suppliers, invoices, and wages (Obaretin et al., 2024). Decisions on investment strategies for excess funds are also covered by the cash management policy, which includes the formulation of guidelines for allocating excess funds to low-risk, short-term ventures that provide profits for the company while maintaining liquidity. Sari et al. (2024) claim that cash management standards serve as the foundation for internal controls that stop theft, fraud, and cash handling mistakes, using checks and balances, including job segregation, timely reconciliations, approval procedures, and guarantees that the money is appropriately accounted for and documented are examples of controls. Treasury Single Account (TSA) The TSA is an integrated approach adopted by governments in which all public revenues are parked in a single account or linked network of accounts. It integrates the government's receipts, outlays, and financial operations for more government control and transparency over the public finances (Sunday et al., 2021). The cash management system allows a single account to retain all government monies to prevent the development of government bank accounts. The TSA raises liquidity management by reducing borrowing costs and monitoring adequate cash flow. The Treasury Single Account refers to a financial arrangement that consolidates the finances of all government ministries, departments, and agencies into a single account to enhance public finances' accountability and allow for correct reporting and monitoring in real- time (Sunday, 2017). The TSA is a government-adopted integrated strategy where all public funds are paid in a single account or a network of connected accounts for greater government control and transparency over the public finances; it unifies the government's revenue, expenditures, and financial activities (Ochenni, 2016). To stop the growth of government bank accounts, the cash management system permits a single account to hold all government funds by lowering borrowing costs; the TSA improves liquidity management and guarantees efficient cash flow monitoring (Adekoya, 2023). A financial system known as the Treasury Single Account unifies the funds of all government departments, agencies, and ministries into a single account. Government Integrated Financial Information System (GIFMIS) An integrated software platform, known as GIFMIS, was thus developed to enhance efficiency in government finance management procedures which makes it possible to centralize and automate public financial processes, such as accounting, reporting, and budgeting, guaranteeing precision, openness, and effectiveness in the administration of public monies. All fiscal activities are documented, reported, and tracked due to the Government Integrated Financial Management Information System (GIFMIS), which centralizes government financial management and provides a comprehensive means of managing the public sector's financial activities quite efficiently, including monitoring expenditures and making budgets (Chukwudum & Joshua, 2024). Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 248 Amadi and Odu (2022) assert that GIFMIS provides the leading integrated public financial management system, which unifies multiple government financial systems onto one platform to make it easier to manage public resources more efficiently and hence better coordination and real-time tracking to reduce corruption by constantly monitoring collections of income, implementation of the budget, and expenditure estimation, and allows for an open and accountable manner of handling public finances.GIFMIS is an integrated computerized technology for the government to plan, track, and evaluate public finances. Integrating various facets of financial management tasksenhances decision-making through real-time access to financial data and ensures that government spending is within the limits of authorized budgets (Ani & Anieti, 2022). By combining all facets of government financial management under one roof, GIFMIS reduces corruption by continuously monitoring revenue collections, budget implementation, and expenditure estimation, making it possible to handle public finances in an open and accountable manner. Theoretical Review Stakeholders’ theory provides rich insights into the factors that motivate the government to adopt and implementthe Treasury Single Account (TSA). Stakeholder theory was propounded by Richard Edward Freeman in 1970. The main idea behind Freeman's Stakeholder Approach was to try to build a framework for the concerns of managers who were confronted. The theory holds that the firm aims to create wealth or value for its stakeholders by converting their stakes into goods and services or as a vehicle for coordinating stakeholder interests. Freeman (1984) further states that the stakeholder approach suggests that managers must formulate and implement processes that satisfy all and only the five groups with a stake in the business. A stakeholder approach is concerned with actively managing the business environment, relationships and promoting shared interests to develop business strategies. The theory assumed that the federal government's adoption of the Treasury Single Account is a result of the pressure from stakeholders/citizens, mainly against corruption. It is suggested that the government will respond to the concerns and expectations of influential stakeholders/citizens, and some of the responses will be in the form of strategic opinions. There are many different ways the treasury single account is conceptualized, which are related to differing views regarding the role of business in society. Within the literature, several points of view exist on the role of government in society, which lead to different views on corporate social responsibility. Among the most important of these views is the shareholder theory, which upholds the age-old view that the only responsibility of a corporation's managers is to maximize its shareholders' wealth (shareholder primacy). This view is associated with the debate over the nature and purpose of the corporation, in which there is a divide between those who advocate that maximizing shareholder wealth is the corporation’s primary concern and those who envision the corporation as a social institution playing a social service role and serving broader objectives and a larger constituency. Whereas the former considers that the fundamental concern of a corporation’s managers is to maximize the shareholders' wealth, the latter defends the perspective that managers should make decisions considering all of the stakeholders in a corporation. Neoclassical economic theory arguments seem to be the foundation used to justify shareholder theory, using notions such as the principle of free markets, economic efficiency, and profit Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 249 maximization. Two normative foundations of the shareholder theory, which are often used as justification for it and arguments against corporate social responsibility, are worthy of note. First, shareholders are considered the corporation's owners, and corporate executives have fiduciary duties to run the corporation in their interests. Corporate executives have no right to act on their preferences, make discretionary decisions, or use the corporation's resources for socially beneficial purposes that cannot be shown to help achieve the corporation’s financial ends. Second, the role of companies is to produce wealth, and pursuing social objectives may hinder their performance in that role, thus interfering with efficient resource allocation. An additional argument used by some shareholder theory advocates against corporate social responsibility is that other organizations exist to deal more adequately with the kind of function associated with socially responsible actions, such as the government. Shareholder theory has been misrepresented in various ways (Smith 2003). First, it is sometimes misstated as suggesting that managers should do anything they can to maximize profits. However, major shareholder theory proponents consider that managers' options to increase profits exclude deception and fraud. Second, shareholder theory is often criticized as geared toward short-term profit maximization at the expense of the long run. Still, several advocates of the shareholder view refer to an enlightened self-interest that would lead to the adoption of long-term preoccupation by corporate managers. Third, some authors contend that the shareholder theory prohibits using corporate funds for charitable projects or investing in activities that promote enhanced employee morale. Yet, numerous shareholder theory supporters view such efforts favorably, as long as they are the best alternatives for investing such funds. The leading earlier proponents of the shareholder theory in the economics and management fields are opposed to corporate social responsibility because it may run against shareholders'interests. The major economics author associated with shareholder theory is the Nobel-winning economist Milton Friedman. He asserted as early as 1962, in a book written with the assistance of his wife Rose D. Friedman that, in a free economy the one and only one social responsibility of business would be to use resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say engages in open and free competitions without deception or fraud (Friedman and Friedman, 1962). The basic argument is that having multiple objectivescreates difficulties for managers and will likelyconfuse their decision-making. On the other hand, there is also the idea that having objective shareholder value maximization will lead managers to take decisions that advance outcomes for various stakeholders. The basic contention is that value maximization should be the only objective function of corporations since doing so implies that managers should not be allowed to pursue social goals at the expense of profitability. On the other hand, enlightened stakeholder theory considers long-term value maximization as the corporation's objective function, thereby solving the problems that arise from considering multiple objectives, as in traditional stakeholder theory. According to some advocates of stakeholder theory the alternatives available for managers to create shareholder value other than “by creating products and services that customers are willing to buy, offering jobs that employees are willing to fill, building relationships with suppliers that companies are eager to have and being good citizens in the community are very Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 250 difficult to envision (Freeman, Wicks & Parmar 2004). Some authors believe corporate social responsibility is often helpful in generating long-term owner value. The arguments presented for strategic corporate social responsibility arise, at least in part, from the classical idea that the sole objective of business is to maximize shareholder wealth and that a corporation should engage in socially responsible activities only if it allows value to be created. This approach is synthesized by McWilliams and Siegel (2001), who argue that governments should treat decisions regarding corporate social responsibility. Modern Monetary Theory (MMT) This theory examines how monetarily sovereign governments operate and their economic impacts. It shows that it is relevant to aggregate the central bank and the treasury into a government sector that finances itself through monetary creation, such that the financial position of the treasury and the central bank are so intertwined that both of them are constantly in contact to make fiscal and monetary policy run smoothly. This theory deals with how sovereign governments should act, especially in terms of financial management and the impact of their action on the economy. Udo and Esara (2016) believe the government should aggregate all revenue into one single account. This theory advocates for the concurrent existence of the Treasury Single Account (TSA) and the Central Bank of Nigeria, the apex bank,which is allowed to be in charge and control of the TSA. According to Eric and Wray (2013), Modern Monetary Theory labels any transactions between the government and non-government sectors as vertical transactions. The government sector is considered to include the treasury and the central bank. In contrast, the non-government sector includes private individuals and firms (including the private banking system) and the external sector- foreign buyers and sellers. However, this theory will be anchored on institutional theory because it addresses practices that are the subject of the recent happenings in the public sector. Such happenings include the introduction/adoption of IPSAS, TSA, GIFMIS, and IPPIS, etc, that can enhance the technical efficiency in the organization or institution adopting these practices (Nagalinagm et al, 2015). It also legitimizes the standard practices, and the absence of these leaves the organization to be termed irrational, corrupt, and negligent. Therefore, the net effect of these reforms is to increase organizational structure homogeneity; in Nigeria, the reference will be the MDAs. It can also go as far as to ensure homogeneity across countries globally, and this structure has been thought to promote efficiency, effectiveness, transparency, and accountability (Meyer & Rowan, 2008). This makes the theory a benchmark for this study. By interdependence, it means that a change in one sector of the economy leads to a change in the other sector of the same economy; it implies that no sector of the economy on its owncan be thriving or lead to the advancement of the whole economic setup. The poor financial status of Nigeria's economy is purely responsible for the failure of policies in other sectors in Nigeria. TSA policies cannot be successful, no matter how good they are, if other sectors of the economy, like banking, energy, education, and the manufacturing/industrial sectors, are malfunctioning. Also, the poor social infrastructures like roads, water, electricity, health, education, etc., which serve as aids or revenue sources, can truncate the success of the TSA policy. Institutional Theory Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 251 According to Nagalinagmet al (2015), institutional theory looks at social structure's deeper and more resilient aspects. This theory focuses on the processes by which cognitive, normative, and regulatory structures and the norms, rules, and routines become authoritative guidelines for social behaviours and practice. Recent developments in Nigeria’s public accounting framework are the new accepted behaviours, regulations, and norms that must be adhered to. The question prevalent in this theory and applied here is whether these recent reforms (financial management reforms) are due to normative or regulatory practices. This theory addresses practices subject torecent developments in the public sector. Such happenings include introducing and adopting IPSAS, TSA, GIFMIS and IPPIS that can enhance the technical efficiency of the organization or institution adopting these practices (Nagalinagmet al., 2015). It also results in the legitimization of the standard practices. Thisleaves the organization to be termed irrational, corrupt, and negligent. Therefore, the net effect of these reforms is to increase organizational structure homogeneity; in Nigeria, the reference will be the MDAs. It can also go as far as to ensure homogeneity across countries globally, and this structure has been thought to promote efficiency, effectiveness, transparency, and accountability (Omolehinwa & Naiyeju, 2015). Institutional theory is relevant to this study because it addresses practices subject torecent public sector events. Such happenings include introducing and adopting the International Public Sector Accounting Standard (IPSAS), TSA, GIFMIS, and IPPIS, which can enhance the technical efficiency of the organisation or institution that adopts these practices. Empirical Review Cash Management and Accountability Ibrahim (2024) investigated the impact of cash management reform (CMR) on the performance of government entities in Nigeria. The study applied a mixed-method approach with a sample size of 306. Quantitative data was analyzed using the Partial Least Squares-Structural Equation Model, while qualitative data was analyzed with thematic/NVIVO. Their finding indicates that for every increase in the impact of cash management reform, there was an increment in the overall performance of government entities because of the reduction of infraction levels in Nigeria. Also, Obaretin et al. (2024) ascertained the effect of cash management on the corporate performance of service firms in Nigeria, using cash turnover and cash ratio as proxies for cash management, while profit margin represents corporate performance. The study employed an expostfacto research design. A sample of five service firms was selected for the study. Data were extracted from the firms' audited annual reports and accounts from 2014 to 2023. Data was analyzed using descriptive statistics and regression analysis to test the two hypotheses. The study showed that cash turnover has a negative, insignificant effect on the profit margin of service firms in Nigeria. In contrast, cash ratio positively and significantly affects the profit margin of service firms in Nigeria. Akinrujomu et al. (2024) sought to examine accountability and economic development in Nigeria. An ex-post facto research design was employed, and data were gathered from the World Development Index (WDI) and the Central Bank of Nigeria (2014-2023). Two hypotheses were tested using an auto-regressive distributed lag approach to evaluate the analysis. The findings revealed a significant negative correlation between accountability, GDP growth,and public capital expenditures in Nigeria.In addition,Sari et al. (2024) determined the Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 252 transparency, participation, and internal control system on the accountability of village fund management. The population in this study is village officials in Ngampel and Gemuh Districts who occupy the positions of village heads, village secretaries, village treasurers, and village government bodies. The data analysis method used in this study uses inferential statistical analysis and is measured using Warp PLS software. Their analysis shows that transparency, participation, and internal control systems positively affect the accountability of village fund management. Janny and Nurhastuty (2024) identified the influence of quantitative accountability, economic transparency, and internal control on the monetary control of non-profit organizations operating in network disciplines in Indonesia. Using quantitative methods, data collected through the distribution of Google forms and manual questionnaires to respondents, and the test tool used by Partial Least Squares (PLS) based on financial accounting standards (ISAK) 35 proves that financial accountability and transparency systems affect Financial Management and Accountability. Their findings revealed that accountability has a significant effect on financial management, transparency has no significant effect on financial management, and internal control has a significant impact on financial management. Setiawan (2024) explored the urgency of mosque financial management to increase financial accountability and prevent fraud. The potential for mosque funds is huge, including zakat, infaq, shodaqoh, and waqf, as well as funds from the government. Therefore, financial management is urgent as a form of accountability to all stakeholders, especially Allah Ta'ala. Financial management, financial accountability, transparency, and good internal control are carried out to prevent potential fraud that can harm the organization and maintain public trust. TSA and Accountability Ewiwile et al. (2024) examined the impact of pre- and post-TSA implementation on Nigeria’s macroeconomic performance. Robust regression estimates were used to analyze the sensitivity of pre- and post-TSA periods to three macroeconomic performance measures in Nigeria between 2007 and 2014, and 2015 and 2022, respectively. Meanwhile, a paired sample t-test was employed to determine whether the mean values of government total revenue, exchange rate, interest rate, and per capita income differed significantly. The federal government's aggregate revenue significantly influences Nigeria's macroeconomic performance. The mean GTR increased from $8565.95 billion in the pre-TSA period to $9151.93 billion in the post- TSA period, but the increase was not statistically significant. Similarly, Eyamu et al. (2024) undertook to examine the effect of the Treasury Single Account (TSA) and Operating Efficiencies of local government councils in Nigeria. Secondary data were obtained from the Federal Inland Revenue Service and the CBN Statistical Bulletin from 2013 to 2022. Data obtained were analyzed using descriptive analysis, correlation analysis, and a multi-collinearity test. An e-View software package was used to measure the TSA and operating efficiency of local government councils in Nigeria. Their findings show that TSA considerably affects the efficiency of LGAs in Nigeria. Sadiq et al. (2024) examined the impact of the Treasury Single Account (TSA) policy on the revenues of the University of Jos and its role in reconciling fund balance differences between the government and the university. Their study employed a descriptive survey design. Structured interviews were conducted with key stakeholders to gather qualitative insights into the impact of the TSA policy; data were analyzed using statistical techniques, such as descriptive statistics and simple percentages, to identify trends and correlations. Their findings Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 253 provided insights into financial management, transparency, and accountability within the university. GIFMIS and Accountability With an emphasis on the timeliness and transparency of financial reporting, Anadebe and Onuora (2024) investigate how the Government Integrated Financial Management Information System (GIFMIS) affects financial responsibility in Nigerian Ministries. 115 senior employees from several Ministries in Abuja provided data for the study using a quantitative survey approach. The research evaluated the GIFMIS deployment using standardized questionnaires with a five-point Likert scale. Inferential statistics and linear regression methods were used to assess the data, and their findings showed that GIFMIS significantly improved the timeliness and transparency of financial reporting inside Ministries. The impact of financial management changes in the public sector, such as the Government Integrated Financial Management Information System (GIFMIS) and the Integrated Personnel and Payroll Information System (IPPIS), on government spending in Nigeria is examined by Court and Iwedi (2024). The technique, which focused on 16 years of data from federal ministries, combines survey research and secondary data analysis. The data were analyzed using regression analysis and descriptive statistics. The data points to conflicting conclusions about how GIFMIS and IPPIS affect government spending, with hints of possible impacts but no clear statistical significance. Chukwudum and Joshua (2024) examined how government public reforms affected Nigeria's economic growth from 2013 to 2022. A descriptive quasi-experimental approach was used in their investigation. At a significant level of 0.05%, hypotheses were examined. According to their findings, Nigeria's economic growth has positively and significantly impacted the government-integrated financial management information system's public sector reform initiatives. Moreover, Nkem and Onuorah (2024) investigated how Nigeria's economic development from 2012 to 2023 was impacted by financial reforms implemented by the Federal Government. Three hypotheses were tested using a descriptive design with a significance level of 0.05. The Government Integrated Financial Management Information System positively and significantly impacts Nigeria's economic development. Oluwagbade et al. (2024) examined the effects of public sector financial reforms on the performance of government entities in Nigeria. Their study employed a survey research design to collect data from 306 personnel across 188 Ministries, Departments, and Agencies (MDAs) in Nigeria. Ordered logistic regression and ordinary least squares (OLS) regression were employed for data analysis. Their study found that GIFMIS and financial planning reforms (Budgetary control) significantly enhanced the financial performance of government entities in Nigeria. The literature on the peculiar challenges and efficiency of cash management policies in Federal Ministries, Departments, and Agencies of Nigeria, particularly at the state level, is still limited because of the growing emphasis on financial accountability and transparency in public administration globally. Although research has examined Nigeria's more general fiscal management systems, studies examining how cash management policies are implemented and the effectiveness of accountability mechanisms within federal MDAs at the state levels, such as in Ondo State- remain few. Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 254 IPPIS and Accountability A study by Yunusa (2020) examined the impact of an integrated personnel payroll information system on employee satisfaction in Kogi State. The research adopts a research survey design, and respondents were reached using a structured questionnaire. The study adopts the Godden sample size statistical formula, which generated a sample size of 285. The finding revealed that adoptingan integrated personnel payroll and information system has served as a veritable tool in enshrining accountability but has threatened employees’ satisfaction owing to its non- domestication to cater for the peculiarity of the Polytechnic sector.Iloanya, Udunze, and Nebo (2020) conducted a study on implementing the Integrated Personnel and Payroll Information System (IPPIS) and how it intersects with the autonomy of the Nigerian public university system. The historical research method of analysis was used to carry out the study. At the end, the study discovered that the gains recorded with IPPIS in the federal civil service is the driver for the service-wide adoption of the policy, including an attempt to implement it on federal public universities in Nigeria but that such blanket implementation will: take away university’s autonomy in staff payroll matters, negatively affect the flexibility and peculiarities of the university system, disrupt the power to hire non-permanent staff, reduce university worker’s stamina to engage government in crisis periods, disrupt the payment of promotion arrears for professors and that the system still has numerous human and material challenges confronting it due to government’s unpreparedness. Using the Nakuru County government case, a study by Stephen and Julius (2021) examined the impact of the Integrated Financial Management Information System (IFMIS) on public expenditures in the Kenyan government. The study utilized a descriptive survey methodology and a census sample approach to choose 73 respondents from a target population of 73 Nakuru County government employees. The regression study, on the other hand, indicated that public financial management changes in the Nakuru county government explained up to 62.3 percent of the shift in public expenditures. The study found that public financial management changes in the Nakuru county government substantially impacted public spending. In a study conducted by Kanu, Obi, and Akuwudike (2021) on the impact of public sector financial management on the economic growth of Nigeria. While an ex-post facto research design was adopted in the investigation, descriptive statistics and a least squares regression analysis were carried out on time-series data to ascertain relationships. Real Gross Domestic Product, taken as a proxy for economic growth, is the dependent variable, while capital and recurrent expenditures are the independent variables. The study indicates that the nation’s financing option is skewed towards payment of salaries and personnel emoluments (Recurrent Expenditures) instead of providinggrowth-oriented basic infrastructures (Capital Expenditures). Disbursement trends are not appropriately harnessed to create a favorable impact on economic growth. In the short run, the disaggregated components of capital expenditure (CAPEX) indicate that expenses incurred in the administration sector and external debt service transfers attracted more than their fair share of public expenditure to the detriment of economic and social community welfare services. The disaggregated component of recurrent expenditures (RECEX) indicates that expenses on the economic service sector and the lagged value of RGDP taken as an explanatory variable were found to have a positive and significant relationship with economic growth in the long run. Therefore, the government should make conscious efforts to scrutinize and monitor budget implementations. Macroeconomic projections should guide the overall level of expenditures. This should be more realistic, Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 255 internally consistent, and based on more accurate and timely information. The Government must carefully estimate and determine priorities and emphasize the need for control over revenue and expenditure to enhance critical areas of economic growth in Nigeria. 3.0 Methodology This study adopted a survey research design. This was adopted because the study obtained information directly from the respondents. The primary data was collected by administering a questionnaire to the participants of this study. The data collected in this study were analyzed using descriptive and ordinary least square regression analysis. The population of this study consists of 385 heads of Federal Ministries, Departments, and Agencies MDAs in Ondo State (Source: attendance register of the meeting, 2024). The sample size was 150 heads of federal MDAs in Ondo State, who were selected using the Purposive Sampling Technique to choose members of federal MDAs who are in active service.The study employed the baseline model adapted from the study of Effiong et al. (2017), which examined the effect of Treasury Single Account (TSA) and Integrated Financial Management Information System (FMIS) implementation on fraud management in the public sector in Nigeria. The original model was stated as follows: FMPS = 𝛽 + 𝛽 𝑃𝐶𝑇𝑆𝐴 + 𝛽 𝐼𝑃𝑃𝐼𝑆 + 𝛽 𝐼𝐹𝑀𝐼𝑆 + 𝑒 (1) Where FMPS represents Fraud Management in the Public Sector, TSA indicates Treasury Single Account (TSA), IFMIS indicates Integrated Financial Management Information System, IPPIS represents Integrated Personnel Payroll Information System, and e is the error term. However, the above model was modified to capture accountability, which the previous studies failed to capture, as follows: 𝐴𝐶𝐶 = 𝑓(𝐶𝑀𝑃) (2) Where 𝐴 represents the Accountability indicator variable, 𝐶𝑀𝑃 represents Cash management policies. For the study, the ACC represents accountability. At the same time, Cash management policies (𝐶𝑀𝑃) were proxied by Treasury Single Account (TSA), Government Integrated Financial Management Information System (GIFMIS), and Integrated Personnel Payroll Information System (IPPIS). This resultsin the equation 3.3 𝐴𝐶𝐶 = 𝑓(𝑇𝑆𝐴, 𝐺𝐼𝐹𝑀𝐼𝑆, 𝐼𝑃𝑃𝐼𝑆) (3) 𝐴𝐶𝐶 = 𝛽 + 𝛽 𝑇𝑆𝐴 + 𝛽 𝐺𝐼𝐹𝑀𝐼𝑆 + 𝑒 (4) Where A represents Accountability, TSA indicates Treasury Single Account (TSA), GIFMIS indicates Government Integrated Financial Management Information System. In line with the previous studies reviewed, the expectation is that cash management policies have a positive and significant effect on accountability in the public sector. A priori expectation is stated thus, 𝛽 , 𝛽 &𝛽 > 0. The independent variable of this study was cash management policies, which were measured by the Treasury Single Account (TSA) and Government Integrated Financial Management Information System (GIFMIS). At the same time, the dependent variable is accountability, measured by transparency. A designed and structured questionnaire was used for data collection, using five Likert scales of 5 to 1. Strongly Agree (5), Agree (4), Undecided (3), Disagree (2), and Strongly Disagree (1). Pilot survey research was conducted on a group of respondents to validate the questionnaire with a factor reliability test using the Kaiser-Meyer-Olkin (KMO) and Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 256 Bartleytests. The Cronbach’s alpha (α) of the scale used in the research was 0.776, far more significant than 70%. The scale with the coefficient alpha above 0.70 was good and acceptable. This shows that the questionnaire has high internal consistency and reliability. Therefore, the alpha level was considered reliable enough for data analysis. Table 1: Results of Validity and Reliability Test Variables Cronbach Alpha No of items Accountability 0.652 7 Treasury single account 0.726 7 Government integrated financial management information system 0.757 8 Source: Authors’ Computation (2025) 4.0 Results and Policy Implications The following table presents the descriptive statistics for the four ACCT, C, TSA, GIFMIS, and IPPIS variables. Based on 125 observations, all these variables appear to represent some financial or performance measures. The mean of accountability as the dependent variable is 25.59086,with other connected maximumsthat explain the stewardship of public money and expenditure process is feasible in the federal MDAs, and a minimum value of 12.28571 provides financial information of MDAs as easily accessible to the general public upon request. The standard deviation of 4.321142 with Skewness -1.184838, that financial information disclosed by the federal MDAs fully represent their activities, with median 26.57143 and kurtosis of 3.544251 respectively, proved that public accountability achieved only if those who receive the accounts have power and ability to take actions on the variations of those accounts; 30.78943 of Jarque-Bera, implies that there is no secrecy in MDAs financial reports presented to the general public. The implication is that theirscheme has enhanced personnel enrolment and payment among federal MDAs. PAYE deduction and other statutory remittances are better regulated by adopting an integrated personnel payroll information system. The mean of TSA is 39.45760 shows that effective monitoring of receipts and expenditures of public funds with other connected maximum and minimum value of 44.50000 and 25.20000 led to uniformity in financial reporting method in federal MDAs respectively, this means that proper cash management of collected government revenue single account aids transparency; standard deviation is 4.436129 Skewness -1.359975 with median 40.50000 and kurtosis of 4.363536 respectively the result showed that proper governance of TSA promote accountability as sanctions by legislative improves on the financial management of MDAs. The implication is that there is no secrecy in MDA's financial reports presented to the public. Then, the value of skewness and kurtosis confirmed the respondents' opinions. The standard deviation of GIFMIS is 3.214895, with the other associated maximum and minimum values of 30.71429 and 14.71429, respectively. There is feedback from stakeholders on MDAs' financial activities, with 1281.608, a sum squared deviation, and a skewness of - 1.589853. GIFMIS is set up adequately to ensure accountability in the MDAs, with a kurtosis of 5.518795 indicated that government integrated financial information system symmetrical with mean of 26.33714 with Jarque-Bera of 85.70237 the implication of this is that public Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 257 accountability can be achieved only if those who receive the accounts have power and ability to take actions on the variations of those accounts. The mean of GIFMIS is 26.33714,with other connected maximum and minimum values of 30.71429 and 14.71429,respectively; the standard deviation is 3.214895. Skewness -1.589853 with median 27.42857 and kurtosis of 5.518795. The mean of integrated personnel payroll information system (IPPIS) is 30.81800 with other connected maximum and minimum value of 35.62500 and 17.37500 respectively; the process of staff training and development have been greatly enhanced through integrated personnel payroll information system adoption with standard deviation is 3.785467 while the Skewness - 1.590499 with median 31.50000 and kurtosis of 5.538863 respectively, proved that proper governance of integrated personnel payroll information system promote accountability as it reduces payroll manipulation among federal MDAs in Ondo State. The implication is that theirscheme has enhanced personnel enrolment and payment among federal MDAs. PAYE deduction and other statutory remittances are better regulated by adopting an integrated personnel payroll information system. Table 2: Descriptive Statistics ACCT C TSA GIFMIS IPPIS Mean 25.59086 1.000000 39.45760 26.33714 30.81800 Median 26.57143 1.000000 40.50000 27.42857 31.50000 Maximum 30.71429 1.000000 44.50000 30.71429 35.62500 Minimum 12.28571 1.000000 25.20000 14.71429 17.37500 Std. Dev. 4.321142 0.000000 4.436129 3.214895 3.785467 Skewness -1.184838 0.000000 -1.359975 -1.589853 -1.590499 Kurtosis 3.544251 0.000000 4.363536 5.518795 5.538863 Jarque-Bera 30.78943 0.000000 48.21543 85.70237 86.27382 Probability 0.000000 0.000000 0.000000 0.000000 0.000000 Sum 3198.857 125.0000 4932.200 3292.143 3852.250 Sum Sq. Dev. 2315.361 0.000000 2440.225 1281.608 1776.891 Source: Authors’ Computation (2025). Effect of Treasury Single Account on Accountability The regression results show a significant association between the independent variable, TSA, and accountability, the dependent variable. The regression analysis indicated that the Treasury Single Account (TSA) motivates accountability in federal MDAs in Ondo State. Treasury Single Account proxy as an essential feature to discourage financial resource mismanagement; strictly complying with the standards and code of practices implemented in professional accountsdaily reduces corruption among federal MDAs heads in Ondo State. Increasing government revenue through TSA will lead to a 0.57034 increase in accountability among federal MDAs in Ondo State, and it was statistically significant at 1% due to the P-value of 0.000. This means that increased TSA compliance led to a significant increase in accountability. The coefficients of 3.611629 and 0.57034 obtained in TSA explained thecontrol variable and indicatedthat a unit increase led to a 0.57034, that is, a 57% increase in accountability. Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 258 The Adjusted R2 of 0.821549 indicates that TSA as a variable explained 82 % of the variation in the dependent variable. The Durbin-Watson stat. of 1.495914 suggests the absence of first- order serial autocorrelation. Hence, we can have confidence in the model in predicting the accountability in federal MDAs in Ondo State, Nigeria, with a Standard Error of 0.072051. The T-stat 7.731059 and the Hannan-Quinn criterion 5.411228. This result showed that a positive relationship exists between the treasury single account and accountability among federal MDAs in Ondo State; the effect of treasury single account on accountability is significant at 1 per cent. Ensuring proper cash management is collected for government revenue, a single account aids transparency and confidentiality. Government stakeholders possess sufficient investigatory power and control over heads of MDAs, as the elimination of extravagant spending among federal MDAs in Ondo State prevents directors from squandering government money, because the coordinated and systematic development of TSA has fundamental factors to help and create value in the federal MDAs in Ondo State. This study, therefore, found that TSA has a positive, statistically significant effect on accountability in Ondo State, Nigeria. Therefore, this study did not accept earlier hypotheses and accepted an alternative hypothesis, that there is a positive relationship between treasury single account and accountability among federal MDAs in Ondo State, Nigeria. This finding supports the study of Amos (2018), whichexamined the effect of the treasury single account on financial accountability, corruption, and financial discipline in the Nigerian public sector. His study found that TSA significantly promotes accountability of public funds in Nigeria, as it reduces corruption in the Nigerian public sector and enhances financial discipline in the Nigerian public sector. Also, this study supported the study of Ayoade et.al. (2020) whoexamined the extent to which the treasury single account has affected public fund management in federal MDAs in Ibadan, Oyo state. Their finding shows that implementing TSA should be progressive for the economy in general. This study contradicted the study of in a study conducted by Ogunbade, Oshatimi, and Kayode (2021), which examined the effects of Treasury Single Accounts (TSA) on the revenue generation of federal government parastatals in Ekiti state. The study reveals that TSA has not enhanced revenue generation among federal government parastatals in Ekiti State. The study further shows that TSA is counterproductive since the average revenue generated after the implementation of TSA is lower than the average revenue that the parastatals generated before the implementation of TSA. Also, it contradicted the study of Kanu (2016), which examined the impact of atreasury single account on the liquidity of the banks in Nigeria. The result confirmed that the implementation of the treasury single account in the public accounting system negatively impacted the liquidity base and the performance of the banking sector in Nigeria. This is due to the geographical location of the study and the industry in which the study is being carried out. Table 3: Regression Analysis of Treasury Single Account on Accountability Variable Coefficient Std. Error t-Statistic Prob. C 3.611629 2.860746 1.262478 0.2092 TSA 0.57034 0.072051 7.731059 0.0000 R-squared 0.817020 Mean dependent var 25.59086 Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 259 Adjusted R-squared 0.816491 S.D. dependent var 4.321142 S.E. of regression 3.559244 Akaike info criterion 5.392844 Sum squared resid 1558.191 Schwarz criterion 5.438097 Log likelihood -335.0528 Hannan-Quinn critter. 5.411228 F-statistic 59.76927 Durbin-Watson stat 1.495914 Prob (F-statistic) 0.000000 Source: Authors’ Computation (2025). Effect of the Government Integrated Financial Information System on Accountability The regression results show a significant association between the independent variable, GIFIS, and accountability, the dependent variable.The regression analysis indicated that the Government Integrated Financial Information System (GIFIS) stimulates accountability in federal MDAs in Ondo State. The Government Integrated Financial Information System is an essential feature that promotesthe prompt release of financial reports compared to the old system. GIFMIS aids in the dissemination of financial information in the federal MDAs. It means that strictly complying with GIFMIS implementation is a welcome development in the federal MDAs, as it increases transparency of government revenue through GIFMIS, leading to 0.711524 and a standard error of 0.102820,and increases in accountability among federal MDAs in Ondo state. It was statistically significant at 1% due to the p-value of 0.000. It means that increased GIFMI has led to a significant increase in accountability. The coefficient of 0.711524 obtained in GIFMIS shows that the government integrated financial information system is a variable stimulating accountability, which means a unit increase led to 0.711524, that is, a 0.71 increase in accountability. The Adjusted R2 of 0.274379 indicates that GIFMIS as a variable explained 71% of the variation in the dependent variable. The Durbin-Watson stat. of 1.321882 suggests the absence of first-order serial autocorrelation. Hence, we can have confidence in the model in predicting the accountability in federal MDAs in Ondo State, Nigeria, with a Standard Error of 0.102820. The T-stat 6.920127 and the Hannan-Quinn criterion 5.478443. This result showed that a positive relationship exists between the government integrated financial information system and accountability among federal MDAs in Ondo State; the effect of the government integrated financial information system on accountability is significant at 1 per cent. GIFMIS implementations promote governance in the MDA to improve the level of trust among stakeholders and, as the electronic component of the GIFMIS, make the system impossible to breach by malicious and mischievous personnel. This study found that the government's integrated financial information system positively affected accountability among federal MDAs in Ondo State. Findings of this study aligned with the study of Anadebe and Onuora (2024), who investigated how the Government Integrated Financial Management Information System (GIFMIS) affects financial responsibility in Nigerian Ministries; their findings showed that GIFMIS significantly improved the timeliness and transparency of financial reporting inside Ministries. Also, this study supported the study of Olurankinse and Oloruntoba (2018), which examined the effect of GIFMISon government financial transactions concerning public funds management and how it has significantly influenced government policy. Their findings revealed that, with the use of GIFMIS, therehas been an appreciable reduction in corruption, financialirregularities, and leakages, with the attendant improvementin transparency and accountability in managing government funds. Also, the use of GIFMIS has ledto the effective implementation of government policy, which is significant in reducing mismanagement of Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 260 public funds. In a study, Ali (2020) examined theimpact of government integrated financial information system (GIFMIS) reform on the financial management practices in Nigerian public universities. (Using some selected Nigerian universities). The results of the study revealed that GIFMIS reform has had a positive impact on financial management practices. However, the findings from this study disagree with those of Mohammad and Mohammad (2016), who examined the role of the government financial management information system in raising the effectiveness of government budgeting in Jordan. Their study foundno significant role for GFMIS in increasing the effectiveness of the government budget at all stages. Timothy and Phiri (2020) investigated the impact of integrated financial management information systems on the procurement process in the public sector in developing countries usingthe Zambian government sectors. The results of their study revealed that there is a significant negative relationship between GIFMIS and transparency, reduced financial leakages, and efficiency and speed. Table 4: Regression Analysis of Government Integrated Financial Management Information System on Accountability Variable Coefficient Std. Error t-Statistic Prob. C 6.851337 2.727913 2.511567 0.0133 GIFMIS 0.711524 0.102820 6.920127 0.0000 R-squared 0.280231 Mean dependent var 25.59086 Adjusted R-squared 0.274379 S.D. dependent var 4.321142 S.E. of regression 3.680894 Akaike info criterion 5.460059 Sum squared resid 1666.525 Schwarz criterion 5.505312 Log-likelihood -339.2537 Hannan-Quinn critter. 5.478443 F-statistic 47.88816 Durbin-Watson stat 1.321882 Prob(F-statistic) 0.000000 Source: Authors’ Computation (2025). Effect of Integrated Personnel Payroll Information System on Accountability The regression results show a significant association between the independent variable, IPPIS, and accountability, the dependent variable.The regression analysis indicated that the Integrated Personnel Payroll Information System (IPPIS) stimulates accountability in federal MDAs in Ondo State. Integrated personnel payroll information system measures are a vital factor that reduces payroll manipulation among federal MDAs in Ondo State. It means that strictly comply with IPPIS implementation is a welcome development in the federal MDAs, as it increases transparency and sanctions by legislative improves on the financial management of MDAslead to 0.630177 and standard error of 0.091151 increases in accountability among federal MDAs in Ondo state and it was statistically significance at 1% due to the P – value of 0.000. This means that, as IPPIS increases, accountability also significantly increases. The R2 of 0.215717 was obtained showingthe integrated personnel payroll information system as variables stimulating accountability. The coefficient of 0.630177 obtained in IPPIS indicated that a unit increase led to 0.630177, which isa 63% increase in accountability. The Adjusted R2 of 0.209341 indicates that IPPIS as a variable explained 63 % of the variation in the dependent variable. The Durbin- Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 261 Watson stat. of 1.236821 suggests the absence of first-order serial autocorrelation. Hence, we can have confidence in the model in predicting the accountability in federal MDAs in Ondo State, Nigeria, with a Standard Error of 0.091151. The T-stat 5.816453 and the Hannan-Quinn criterion 5.564283. This result showed that a positive relationship exists between the integrated personnel payroll information system and accountability among federal MDAs in Ondo State, the effect of the integrated personnel payroll information system on accountability is significant at 1 per cent. IPPIS reduces the list of ghost workers in federal MDAs as its implementations promote good governance in the MDA to improve the uniformity of workers' salaries in the federal MDAs. IPPIS makesit impossible for the system to be breached by malicious and mischievous personnel officers. This study found that integrated personnel payroll information system positively affected accountability among federal MDAs in Ondo State. This study agrees with the study of Stephen and Julius (2021),which examined the impact of an integrated financial management information system (IFMIS) on public expenditures in Kenya using the case of Nakuru,the county government. Their study found that public financial management changes in the Nakuru County government substantially impacted public spending. The study also supported the study of Yunusa (2020),which investigated the impact of an integrated personnel payroll information system on employees’ satisfaction in Kogi State. The study's findings revealed that adopting an integrated personnel payroll and information system has been a veritable tool for enshrining accountability. However, it has threatened employees’ satisfaction owing to its non- domestication in catering to the peculiarity of polytechnic education. This study also agreed with Abdulsalam, Sani, Gambaraw, and Lawal's (2020) studyon the effect of integrated personnel and payroll information system (IPPIS)on transparency in government payroll administration in the Nigerian civil service. Their study revealed a significant moderate positive relationship between IPPIS, transparency, andaccountability. However, this study contradicted Odoyo, Adero, and Chumba's (2014) study, which examined the effect of IFMIS on cash management practices in public service. Findings revealed that the implementation of IFMIS has not succeededdue to the top-down management exhibited in most of the public services. To justify the contradiction, the government must ensure that the public service and the information generated by GIFMIS are consistent without delays and gratuitous changes that demand manual processing. Also, government should tailor information concerningpublic service onGIFMIS so that others cannot tamper with it. Also, there should be sufficient IFMIS controls to curb tampering with the GIFMIS policy. Table 5: Regression Analysis of Integrated Personnel Payroll Information System on Accountability Variable Coefficient Std. Error t-Statistic Prob. C 9.251856 2.830045 3.269155 0.0014 IPPIS 0.630177 0.091151 5.816453 0.0000 R-squared 0.215717 Mean dependent var 25.59086 Gusau Journal of Accounting and Finance, Vol.6, Issue 2, April, 2025 262 Adjusted R-squared 0.209341 S.D. dependent var 4.321142 S.E. of regression 3.842317 Akaike info criterion 5.545899 Sum squared resid 1815.899 Schwarz criterion 5.591152 Log likelihood -344.6187 Hannan-Quinn criter. 5.564283 F-statistic 33.83112 Durbin-Watson stat 1.236821 Prob(F-statistic) 0.000000 Source: Authors’ Computation (2025) 5.0 Conclusion and Recommendation This study revealed the significance of cash management policies and accountability in federal MDAs in Ondo State, Nigeria. The study specifically investigated the effect of the treasury single account on accountability in the federal MDAs in Ondo State, Nigeria; the influence of the government integrated financial information system on accountability in the federal MDAs in Ondo State, Nigeria; and the impact of the integrated personnel payroll information system. This was done to determine how cash management policies and accountability affect federal MDAs in Ondo State, Nigeria. The study concluded that the treasury single account, government integrated financial information system, and the integrated personnel payroll information system significantly influence accountability.The study's key findingsrevealed that the Treasury Single Account (TSA) positively and significantly affected accountability among federal MDAs in Ondo State. Furthermore, findings showed that GIMIS had a positive effect on accountability. Also, IPPIS had a positive and significant effect on accountability. The study's key findings revealed that the Treasury Single Account (TSA) positively affects accountability among federal MDAs in Ondo State. Furthermore, GIMISstatistically positively impacted accountability. Also, IPPIS had a significant positive effect on accountability. Recommendation Based on the study's findings, it is recommended that government authorities maintain treasury single account policies to increase government revenue because they have positively affected accountability. Furthermore, several measures towards developing sound, effective and efficient government policy on TSA must be implemented in tandem with the Government Integrated Financial Management Information System (GIFMIS), Integrated Personnel Payroll Information System (IPPIS) for a sound public sector accounting system. 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