Chapter one
Introduction
- Background of the Study
The subject financial accountability is vital to any organization been it project oriented or non-profit oriented lack of financial accountability results in embezzlement, fraud and misappropriation of public funds.
The peculiar nature of Uruan Economy has made any Topic in Accountability, financial or otherwise worth discussing. The value of our society to wealth which nobody is concern about how wealthy one is has made many people to begin to pursue wealth by all means thereby ignoring the fact that they are accountable to the public for the public funds and properties entrusted in their care.
It is due to the above mentioned problems which are associated with lack of financial accountability in any organization that has motivated the researcher to choose the “Topic” Strategies for the Accountability in Local Government Councils of Akwa Ibom State has been chosen as a Case Study in trying to discuss how effective internal Control system will help achieve financial accountability. In Nigeria, Local Government reforms have been a continuous exercise. No single regime colonial or indigenous, civil or military, that came to power passed without making attempt of reforming the local government system. The 1976 reform was part and parcel of the continuing structural adjustment of the country’s political evolution. And development on the whole 1976 reforms was a major department from the previous practice of local government administration, for it provided a uniform system throughout the country. The reform was first and foremost aimed at giving local government a definite role in the country by making it a functional third tier of government.