A Conceptual Model for Advancing Government Accountability through Data-Driven Financial Oversight and Public Sector Auditing

• Author(s): Comfort Iyabode Lawal ; Solomon Christopher Friday ; Damilola Christiana Ayodeji ; Adedamola Sobowale
• Paper ID: 1703527
• Page: 452-467
• Published Date: 30-06-2022
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 5 Issue 12 June-2022

Abstract

The pursuit of enhanced government accountability has become increasingly critical in an era marked by heightened public demand for transparency, efficient resource utilization, and responsive governance. This presents a conceptual model aimed at advancing government accountability through the integration of data-driven financial oversight and public sector auditing. Traditional approaches to financial oversight, while foundational, often suffer from limitations in timeliness, scope, and effectiveness, particularly in detecting financial anomalies and systemic inefficiencies. The proposed model addresses these gaps by leveraging real-time data analytics, predictive modeling, and artificial intelligence to improve the accuracy and impact of financial monitoring and auditing processes. Central to the model is the development of an interoperable data infrastructure supported by Integrated Financial Management Information Systems (IFMIS), enabling seamless data collection, analysis, and sharing across institutions. Analytical tools such as anomaly detection algorithms, machine learning, and visualization dashboards empower auditors and oversight bodies to identify patterns of misuse or inefficiencies with greater precision and speed. The model also incorporates institutional and legal frameworks that promote inter-agency collaboration, regulatory compliance, and transparency mandates, while fostering citizen engagement through open data platforms and participatory oversight mechanisms. Implementation of the model follows a phased approach: assessing institutional readiness, customizing the framework to national contexts, pilot testing, and eventual institutionalization. The model is expected to yield substantial benefits including enhanced fiscal discipline, reduced corruption, improved efficiency of public expenditures, and strengthened public trust. Comparative insights from countries successfully employing data-driven oversight, such as Estonia and South Korea, are discussed to highlight best practices and contextual adaptability. Despite potential challenges such as data privacy concerns, technological disparities, and resistance to change, the model offers a transformative pathway for governments to modernize public financial management. It serves as a strategic blueprint for policymakers, auditors, and development partners committed to strengthening governance through innovation and accountability.

Keywords

Conceptual model, Advancing government, Accountability, Data-driven, Financial Oversight, Public sector, Auditing

Citations

IRE Journals:
Comfort Iyabode Lawal , Solomon Christopher Friday , Damilola Christiana Ayodeji , Adedamola Sobowale "A Conceptual Model for Advancing Government Accountability through Data-Driven Financial Oversight and Public Sector Auditing" Iconic Research And Engineering Journals Volume 5 Issue 12 2022 Page 452-467

IEEE:
Comfort Iyabode Lawal , Solomon Christopher Friday , Damilola Christiana Ayodeji , Adedamola Sobowale "A Conceptual Model for Advancing Government Accountability through Data-Driven Financial Oversight and Public Sector Auditing" Iconic Research And Engineering Journals, 5(12)