Neoliberalism, ‘honour’-based regulatory frameworks of accounting and accountability in a social context: An examination of the role of accounting in the management of subsidies on petroleum products in Nigeria

IF 8.3 2区 管理学 Q1 BUSINESS, FINANCE Critical Perspectives on Accounting Pub Date : 2024-03-01 DOI:10.1016/j.cpa.2023.102605
Owolabi M. Bakre , Sean McCartney , Simeon Femi Fayemi , Mohammad Nurunnabi , Saad Almosa
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Abstract

Nigeria subsidises the cost of petroleum products for its citizens, but corruption means that the cost is rising and to maintain the subsidy, Nigeria has sought financial support from international financial institutions, such as the World Bank and International Monetary Fund. However, this support is contingent on neoliberal economic policy reform, in which the World Bank calls for the removal of petroleum product subsidies and the implementation of Western ‘honour’-based regulatory frameworks, that is, International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS), to improve transparency and accountability. Considering endemic corruption in the Nigerian cultural and socio-political context, where political elites can override any rule and politicians, public officials, and professionals can intentionally manipulate accounting records, we examine the limits of governance/accounting frameworks and explore the boundaries of accountants’ oversight function. In particular, we discuss the impact of ‘honour’-based regulatory frameworks, such as IFRS and IPSAS, on transparency and accountability in the Nigerian oil and gas sector and in the government subsidy programme. This study challenges the neoliberal assumption that Western ‘honour’-based IFRS and IPSAS, widely adopted in developed countries where fraud is rare, can improve transparency and accountability in developing economies like Nigeria, where corruption is endemic.

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新自由主义,社会背景下基于“荣誉”的会计和问责制监管框架:对尼日利亚石油产品补贴管理中会计作用的检查
尼日利亚为其公民提供石油产品成本补贴,但腐败意味着成本不断上升,为了维持补贴,尼日利亚向世界银行和国际货币基金组织等国际金融机构寻求财政支持。然而,这种支持是以新自由主义经济政策改革为前提的,世界银行呼吁取消石油产品补贴,并实施以西方 "荣誉 "为基础的监管框架,即《国际财务报告准则》(IFRS)和《国际公共部门会计准则》(IPSAS),以提高透明度和问责制。考虑到尼日利亚文化和社会政治背景下腐败盛行,政治精英可以凌驾于任何规则之上,政客、公职人员和专业人士可以故意操纵会计记录,我们研究了治理/会计框架的局限性,并探讨了会计师监督职能的边界。特别是,我们讨论了以 "荣誉 "为基础的监管框架,如《国际财务报告准则》和《国际公共部门会计准则》,对尼日利亚石油和天然气部门以及政府补贴计划的透明度和问责制的影响。这项研究挑战了新自由主义的假设,即西方以 "荣誉 "为基础的《国际财务报告准则》和《国际公共部门会计准则》在欺诈行为极少的发达国家被广泛采用,但在尼日利亚这样腐败盛行的发展中经济体却能提高透明度和问责制。
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来源期刊
CiteScore
9.40
自引率
7.80%
发文量
91
期刊介绍: Critical Perspectives on Accounting aims to provide a forum for the growing number of accounting researchers and practitioners who realize that conventional theory and practice is ill-suited to the challenges of the modern environment, and that accounting practices and corporate behavior are inextricably connected with many allocative, distributive, social, and ecological problems of our era. From such concerns, a new literature is emerging that seeks to reformulate corporate, social, and political activity, and the theoretical and practical means by which we apprehend and affect that activity. Research Areas Include: • Studies involving the political economy of accounting, critical accounting, radical accounting, and accounting''s implication in the exercise of power • Financial accounting''s role in the processes of international capital formation, including its impact on stock market stability and international banking activities • Management accounting''s role in organizing the labor process • The relationship between accounting and the state in various social formations • Studies of accounting''s historical role, as a means of "remembering" the subject''s social and conflictual character • The role of accounting in establishing "real" democracy at work and other domains of life • Accounting''s adjudicative function in international exchanges, such as that of the Third World debt • Antagonisms between the social and private character of accounting, such as conflicts of interest in the audit process • The identification of new constituencies for radical and critical accounting information • Accounting''s involvement in gender and class conflicts in the workplace • The interplay between accounting, social conflict, industrialization, bureaucracy, and technocracy • Reappraisals of the role of accounting as a science and technology • Critical reviews of "useful" scientific knowledge about organizations
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