ABSTRACT
This research was carried out on “Evaluation of the Impact of Computerized Accounting and auditing System in public sector. The work was divided into five chapters in order to carry the test successfully. The sole objective of the study was to evaluate the impact of financial management in public sectors in terms of retained earnings and profit-after-tax. The data used in carrying out the research work were gathered from both primary and secondary sources. The research methodology including sample and sampling techniques were based on quota control sampling and data for ten (10) years. Pearson Product Moment correlation coefficient, percentages, data analysis techniques were used. It was highlighted that computerized accounting and auditing was effective in terms of retained earnings and profit after tax and that the goals of public sectors could be achieved through effective financial management. The major conclusion was that certain strategies must be put in place in order to meet the targeted goal of the organization. It was recommended that the government should intensify its supervision and monitoring of public sectors in order to maintain a financial growth in the economy.
CHAPTER ONE
INTRODUCTION
The chapter deals with the background of the study, statement of the problem, objectives of the study, statement of hypothesis, research questions, significance of the study, scope and limitation of the study, organization of the study and definition of terms.
- BACKGROUND OF THE STUDY
       Accounting is a system in which an organization normally use to measure its financial performance by recording, classifying, interpreting and reporting all the transactions like purchases, sales, assets, and liabilities in compliance to a certain accepted standard formats. It provides an avenue to evaluate a Ministry, Department or Agency’s past, present and future in order to ascertained performance, condition and prospects respectively. According to Hanini, E (2012), A more formal definition of accounting is the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results thereof. The Advent of information and communication technology (ICT) has transformed many firms in professional service industries, but perhaps few as much as in the public accounting industry. Therefore, in the public accounting underwent tremendous changes at the turn of the millennium, sparked largely by the rapid changes in its environment contributed by Tarmidi, M., Rashid, A., Deris, M., & Roni, R. (2013). It was premised by Polo, J., & Oima, D (2009), that Audit software and knowledge-sharing applications are two crucial components of these changes. Automation of audit tasks and use of specialized audit software has substituted ICT for labor and changed the structure of audit teams and other inputs. Equally important is the use of advanced systems to share knowledge base across different parts of the Ministry, Department or Agency that has enabled professional services or firms to leverage their human resources more effectively.
From the middle of 1950s financial management turned into an insider- looking- in function. That is the emphasis shifted to utilization of funds from raising of funds. So, choice of investment, capital investment appraisals, etc. assumed importance. Objective criteria for commitment of funds in individual assets were evolved.
