An Ex-Ray of Treasury Single Account (TSA) for Sustainable Development

T. A. Odetayo

Department of Accountancy

Osun State Polytechnic, Iree, Nigeria

Email:  deentao@yahoo.com                                                                                       

ABSTRACT

Sustainable development lacks where poor financial discipline, transparency and accountability exist. Treasury single account (TSA) was introduced into Nigeria accounting system as a result of numerous corrupt practices that prevail in the public accounting system. The paper starts by discussing the concepts of sustainable development and treasury single account (TSA). This is followed by an assessment of objectives, benefits and operational guidelines of TSA. It then ex-rays the challenges facing TSA implementation in Nigeria. The study concludes that TSA as a financial policy can curb corruption and financial recklessness among government functionaries and executives, if government provides legislative supports and practicable enabling environment. In addition, the study recommends that proper monitoring of government account should be carried out promptly and stringent punitive measures should be mete out against corrupt officers.

Keywords: Treasury single account, financial policy, sustainable development, accountability