Validation of the Model of Financial Reporting Transparency and Accountability in Municipalities from the Perspective of Experts

This study aimed to validate a multidimensional model of financial reporting transparency and accountability in municipalities from the perspective of academic and professional experts. The study was conducted using an exploratory sequential mixed-methods design. In the qualitative phase, relevant theoretical sources and previous studies were reviewed, and semi-structured interviews were conducted with experts in municipal accounting, auditing, financial management, and public-sector accountability. The interviews continued until theoretical saturation was achieved. The extracted codes were classified into dimensions, components, and indicators, and the reliability of coding was assessed through inter-coder agreement and Cohen’s kappa coefficient. In the quantitative phase, a researcher-made questionnaire based on the qualitative findings was developed and distributed among experts. The fuzzy Delphi technique was used to screen and confirm the indicators, and SmartPLS was applied to assess the measurement and structural validity of the proposed model. The inferential results confirmed the validity of a four-dimensional model including social, economic, organizational, and political dimensions. The inter-coder agreement was 89.6%, and Cohen’s kappa coefficient was 0.804, indicating strong coding reliability. Confirmatory factor analysis showed acceptable factor loadings for the retained indicators. Cronbach’s alpha values ranged from 0.719 to 0.833, composite reliability ranged from 0.735 to 0.846, and AVE values ranged from 0.586 to 0.641, confirming internal consistency and convergent validity. The structural model showed acceptable explanatory power, with R² values of 0.621 for the social dimension, 0.548 for the economic dimension, 0.482 for the organizational dimension, and 0.519 for the political dimension. The Q² values were positive for all dimensions, and the overall GOF index was 0.541, indicating strong model fit. The validated model demonstrates that municipal financial reporting transparency and accountability are multidimensional constructs shaped by social access, economic conditions, organizational capacity, and political-accountability relations. The model can serve as a diagnostic framework for improving reporting quality, public accountability, and financial governance in municipalities