Main Article Content
The study examined forensic accounting as an instrument of detection and prevention of fraud in Nigeria. It specifically examined the influence of forensic accounting on detection and prevention of fraud in Ministries, Departments and Agencies in Nigeria. The study is predicated on policeman theory, white collar theory, fraud diamond theory. Primary sources of data were employed which covered the period of ten (10) years spanning from 2010 to 2020. A cross sectional Survey design was adopted. A Questionnaire was used in data collection from the staff of Integrated Personnel Payroll Information System and Office of the Account General of Federation. Seventy-five (75) questionnaires were used as the sample size. The study adopts descriptive statistics while regression analysis was used to test the stated hypotheses. The result of the findings showed that forensic accounting has positive and significant influence on fraud prevention, but foreign account has no total control on fraud detection. It was also revealed that forensic litigation has no significant positive influence on recovery of funds lost to fraud. The study recommends that forensic accounting systems should be allowed as a procedure for internal control systems so as to prevent or reduce the level of income leakages, mismanagement of funds and budget padding.
Agbiogwu, A.A., Ihendinihu, J., Okafor M. (2016). Impact of Environmental and Social Costs on Performance of Nigerian Manufacturing Companies. International Journal of Economics and Finance, 8 (9), 173. (Crossref)
Bhasin, M. (2007). Forensic Accounting: A New Paradigm for Niche Consulting. Retrived from https://www.researchgatenet/publication/286711517_Forensic_Accounting_A_New_Paradigm_For_Niche_Consulting [accessed 20.08.2020].
Bressler, L. (2011). The Role of Forensic Accounting in Fraud Investigations: Importance of Attorney and Judge’s Perceptions, Journal of Finance and Accountancy, 4 (3), 78–89.
Coenen, T.L. (2005). Fraud in Government: Wisconsin in Law Journal Article Posted by asafamar Sundip.
Curtis, G.E. (2008). Legal and Regulatory Environments and Ethics: Essential Components of Fraud and Forensic Accounting Curriculum. Issues in Accounting Education, 23 (4), 535–543. (Crossref)
David, N.B. (2009). Forensic Accounting: Public Acceptance towards Occurrence of Fraud Detection. International Journal of Business and Management, 145–160.
Eiya, O., Otalor, J.I. (2013). Forensic Accounting as a Tool for Fighting Financial Crime in Nigeria. Research Journal of Finance and Accounting, 4 (6), 18–25.
Enofe, A.O., Agbonkpolour, O.R., Edebiri, O.J. (2015). Forensic Accounting and Financial Fraud. International Journal of Multidisciplinary Research and Development, 2 (10), 305–312.
Enofe, A.O., Okpako, P.O., Atube, E.N. (2013). The Impact of Forensic Accounting on Fraud Detection. European Journal of Business and Management, 5 (26), 61–72.
Gbegi, D.D., Adebisi, J. (2013). The New Fraud Diamond Model-How can it help forensic Accountants in fraud investigation in Nigeria? European Journal of Accounting Auditing and Fiance Research, 1 (4), 129138.
Haye, K.P., Anyaduba, J.O. (1999). Forensic Accounting and Financial Fraud: an Empirical approach. International Journal of Business and Social Science 4 (7), 281–289.
Howard, S., Sheetz, M. (2006). Forensic accounting and fraud investigation for non-experts. John Wiley and Sons Inc., New Jersey.
Ibhahulu, A.S. (2012). The effect of credit risk management on the financial performance of the Jordanian commercial banks. Investment Management and Financial Innovations, 12 (1–2), 338–345.
Imam, A., Kumshe, A.M., Jajere, M.S. (2015). Applicability of Forensic Accounting Services for Financial Fraud Detection and Prevention in the Public Sector of Nigeria.
International Journal of Information Technology and Business Management, 40 (1), 136–152.
Koh, A.N., Arokiasamy, L., Lee, C. (2009). Forensic Accounting: Public Acceptance towards Occurrence of Fraud Detection. International Journal of Business and Management, 4 (11), 145–160. (Crossref)
Kosmas, N., Thulani, D., Mashanye, E. (2009). The Effective of Forensic Auditing in Detecting, Investigating and Preventing Bank Frauds. Journal of Sustainable Development in Africa, 10 (4), 405–425.
Imoman, Antunesal, Formigoni (2013). Fishbowl the Forensic Accountant: A Closer Look at the Skills Forensic Accounting Education Should Emphasize. The Forensic Examiner, 18 (2), 77–79.
Imoniana, J.O, Antunes, M.T, Formigoni, H. (2013). The forensic accounting and corporate fraud. Journal of Information Systems and Technology Management, 10 (1), 119–144. (Crossref)
Izedonmi, F., Ibadin, P.O. (2012). Forensic Accounting and Financial Crimes: Adopting the Inference, Relevance and Logic Solution Approach. African Research Review, 6 (4), 125–139. (Crossref)
Manning, G.A. (2002). Financial Investigation and Forensic Accounting. CRC Press, New York.
Nwankwo, A.T. (2004). The Expanding Role of the Forensic Accountant. The Forensic Examiner, 14 (3), 39–43.
Okafor, M.C., Agbiogwu, A.A. (2016). Effects of Forensic Accounting Skills on the Management of Bank Fraud in Nigeria, European Journal of Accounting, Auditing and Finance Research, 4 (6), 70–80.
Okoye, E. I., Gbegi, D.O. (2013). Forensic Accounting: A Tool for Fraud Detection and Prevention in the Public Sector. (A study of selected ministries in Kogi state).
International Journal of Academic Research in Business and Social Sciences, 3 (3), 19–34.
Owojori, A.A., Asaolu, T.O. (2009). The role of forensic accounting in solving the vexed problem of corporate world. European Journal of Scientific Research, 29 (2), 183–187.
Shabbir, R.E, Kiefer, G. (2004). Does productivity and ownership matter for growth ? Evidence from Indian banks.
International Journal of Emerging Markets, 11 (4).
Wolfe, D.T., Hermanson, D.R. (2004). The Fraud Diamond: Considering the Four Elements of Fraud. The CPA Journal, 74 (12), 38–42.
Wood, F., Sangster, A. (2005). Frank Wood’s Business Accounting. Pearson Education, London.
- Magdalena Jarczok-Guzy, THE STANDARD VAT RATE AND THE EFFECTIVENESS OF FISCAL POLICY IN EUROPEAN UNION COUNTRIES , Acta Scientiarum Polonorum. Oeconomia: Vol. 20 No. 1 (2021)
You may also start an advanced similarity search for this article.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.