Effect of ICT-Driven Control Activities on Financial Accountability of Tertiary Institutions in Southwest, Nigeria

Abstract

This study examines the effect of ICT-driven control activities on financial accountability quality within tertiary institutions in South-West Nigeria, with institutional ownership tested as a moderating factor. Grounded in the Technology–Organization–Environment framework, the study conceptualizes ICT-driven control activities through Authorization, Segregation and Access Control Procedures (ASACP), Data Integrity and Transaction Processing Controls (DITPC), and System Maintenance, Integration and Operational Safeguards (SMIOS). Using a cross-sectional survey design, primary data were collected from 386 staff across Federal, State, and Private institutions, and analysed through multiple regression and interaction modelling. The results show that ASACP does not exert a significant direct effect on financial accountability quality (p = .491), while DITPC (p = .005) and SMIOS (p = .006) exhibit negative direct effects under the Federal reference category. Moderation analysis reveals that institutional ownership significantly conditions these relationships: ASACP × Private (p = .013), DITPC × Private (p = .008), and SMIIOS × Private (p = .024) demonstrate positive and significant effects, whereas SMIOS × State (p = .028) shows a negative moderating effect. The findings indicate that technologically embedded control systems do not automatically enhance accountability; their effectiveness depends on governance structure and ownership-driven oversight incentives. The study concludes that ICT-driven control activities improve financial accountability quality only when reinforced by credible institutional monitoring and performance discipline. The study therefore recommends governance alignment as a precondition for ICT- driven control effectiveness, context-sensitive optimization of ICT-driven control systems, development of ownership-sensitive regulatory frameworks, capacity building in ICT-based internal control and digital governance, reinforcing institutional incentives and managerial responsiveness.