Evaluation of Challenges Facing Adoption of International Public Sector Accounting Standards (IPSAS) in Valuation Reporting in Nigeria (Published)
The issue of International Public Sector Accounting Standards (IPSAS) has come to stay in Nigeria, and interests of scholars as regard to financial reporting in the public sector are geared to it. IPSAS have been embraced by many countries because of it numerous benefits in the area of transparency and accountability. However, this study evaluates the challenges facing adoption of international public sector accounting standards (IPSAS) in valuation reporting in Nigeria. And the aim is to examine the challenges facing adoption of international public sector accounting standards (IPSAS) in valuation reporting in Nigeria with a view to providing information that will enhance implementation in the relevant sectors of government. The research objectives are to identify the relevant content of the IPSAS that will be apply to valuation reporting, to analyze the challenges facing adoption of IPSAS, and to identify the extent of adoption IPSAS in valuation reporting in Nigeria for financial reporting. Questionnaire, key informant interviews, and content analysis were adopted. Nine hundred and thirty-four (934) Estate Surveyors and Valuers both in private and public sectors, in addition to twenty six(26) accountants in different ministries all-in Nigeria were sampled. Data obtained were analyzed with the use of the following statistical tools: Relative Importance Indices (RII), Mean, Frequency and Percentage Distribution. Findings indicate that political Challenges ranked first in both respondent’s views’ with (RII = 4.69) and (RII =5.00) respectively. And others variables followed which affects adoption of IPSAS. The study recommends that, for transparency, accountability and to be in line with international best practices that all the variables analyzed in this study should be fully considered and get right.
Citation: Chinaza Henry Obineme, Ifeanyichukwu Valentine Nwafor, Stanley Chika Nwaogu (2021) Evaluation of Challenges Facing Adoption of International Public Sector Accounting Standards (IPSAS) in Valuation Reporting in Nigeria, European Journal of Accounting, Auditing and Finance Research, Vol.9, No. 6, pp.64-77
Examination of Landlords’ Perception of Estate Surveyors and Values as Property Managers (A Case Study of Awka, Anambra State) (Published)
The study examined landlords’ perception of Estate Surveyors and Valuers as property managers in Awka, Anambra State. The study addressed the following objectives: to examine landlords’ perception of Estate Surveyors and Valuers as property managers in the study area, to examine landlords’ perception of lawyers and other non-professionals as property managers in the study area and, to determine the extent to which landlord’s in the study area are informed about the professional roles of Estate Surveyors and Valuers as property managers. The study made use of well-structured questionnaires as its primary source of data. A total of 150 questionnaires were distributed out of which a total of 102 were retrieved. The data collected were duly presented in frequency and percentage tables and analyzed using the Chi-square test method to validate the hypotheses. The study revealed that landlords in Awka perceive Estate Surveyors and Valuers as trained professionals in the field of property management. However, they also perceive lawyers as property managers and prefer them to manage their properties. Estate Surveyors and Valuers are therefore enjoined to enlighten the public more on who Estate Surveyors and Valuers are and their functions using varous platforms such as social and other electronic media platforms, articles and journals; shun all forms of professional misconduct which can lead to distrust and doubts on their professional competence and also the Nigerian Institution of Estate Surveyors and Valuers (NIESV) and the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) should reduce the rigorous processes required for one to become a professional Estate Surveyor and Valuer, as the number of professionals in practice still leaves much to be desired.
The Impact of Religious Camps Development on Residential Property Values: Case Study of Lagos – Ibadan Expressway, Nigeria (Published)
This study examines the impact of religious camps developments on residential property with reference to selected areas along Lagos/Ibadan Expressway in Nigeria with a view to guiding property investors on the viability of residential property development in close proximity to religious camps. It assessed the types of residential property developments, rental values obtainable from such properties between the years 2008 -2018 and the impacts of these camps on the rental values of the residential properties. The register available at the Ogun State Branch of the Nigerian Institution of Estate Surveyors and Valuers were used to determine the population of registered firms of Estate Surveyors and Valuers practicing in Ogun State within the proximity of the study area which amounts to twelve (12) in numbers. Since they were manageable and could be traced, they were all taken for the study upon which structured questionnaires were administered. Data collected were analyzed using descriptive statistics and regression analysis. The study revealed that most of the investors prefer to build tenement buildings as it provides more accommodation that can house many population; findings also showed an upward trend in the values of residential properties as a result of the presence of religious camps developments. The regression analysis result revealed that religious camps development has significant impact on residential property values as the p-value (0.004) shows that the presence of religious camps development in close proximity of residential neighbourhood influences the rental value obtainable from such residential apartments. The study recommended that since religious camp site developments bring about increase in property development; investors are imployed to invest more and encourage seeking the guidance of Estate Surveyors and Valuers on the type of property development to embark on. This action will further ensure more supply of accommodation for the populace within the neighbourhood thereby ensuring more housing provision in Nigeria.