The welfare of the people is as stake as a result of lack of integrity, accountability, and transparency at the government level. This study assessed the effect of accountability and transparency in financial reporting system of the Nigerian public service in Ogun State. Field survey research method was adopted, primary data obtained through the administration of structured questionnaire was used and the hypotheses were tested using regression analysis. The target population of the study was the entire forty-nine (49) staff of the finance division of the three (3) selected local governments in Ogun State (Ikene, Iperu, and Shagamu) while 43 questionnaires were retrieved and analyzed. The finding of the study revealed that the financial reporting system of public offices in Ogun state is very weak due to lack of proper accountability and transparency. Majority of the offices lack reliable, relevant and material information which could be used to prepare quality financial reporting system. The study recommends that government should ensure financial report produces budgets assessed by the national assembly which is expected to be disclosed to the public. Also, government should ensure that the audit committee is restructured.