Content uploaded by Ayodele Ojo-Agbodu
Author content
All content in this area was uploaded by Ayodele Ojo-Agbodu on Apr 22, 2023
Content may be subject to copyright.
Effect of Forensic Accounting on Fraud Detection in Public Sector
Abstract
In Nigeria, there are cases of financial fraud in the public sector in recent times. This study was therefore carried out to examine the effect of forensic accounting on fraud detection in the Nigeria public sector This study analyzed profile cases being handled by the Economic and Financial Crimes Commission (EFCC) from 2007 to 2019. The study used a total sample of 105 operation staff members EFCC from a population size of 150 using the Yamane's sample size determination technique. The study used a survey design, primary source of data was used in the administration of questionnaires The analysis of data was done using Pearson correlation and simple OLS Regression. The findings from the analysis showed that forensic accounting has a significant effect on economic and financial crime detection in Nigeria public sector, and that forensic accounting serves as a tool for minimizing Fraud and corruption. The study recommends among others that Anti-corruption institutions such as EFCC and the Independent Corrupt Practices Commission (CPC) should engage more forensic countants in their investigative and litigation team. Proper internal audit process should be carried continuously in the public sector to reduce fraud and financial misrepresentation through digital accounting Furthermore, forensic accountants should undergo continuous professional training in the light of the global technological development with a view to detecting more sophisticated financial crimes.
Key words: Corporate Scandal, Financial irregularities, Forensic accounting, Investigation, Public Sector
The increasing sophistication of fraud has necessitated the use of forensic accounting tools to facilitate successful investigation. Perpetuation of fraud in the Nigerian public sector has reached alarming levels. This problem motivated the discussion on whether forensic accounting can facilitate detection and prevention of fraud in Nigeria. This chapter evaluates the relevance of forensic accounting on fraud detection in Nigerian public sector using a case study of Bayelsa state. This chapter finds that forensic accounting enhances fraud detection. The chapter consequently recommends that professional accounting bodies should constantly conduct forensic accounting training for accountants, and there is a need for the inclusion of forensic accounting in the syllabus of all the tertiary institutions offering accountancy in Nigeria. Further, the services of forensic accountants should be engaged more in Nigeria.
Artikel ini menjelaskan peran akuntansi forensik dalam pemberantasan korupsi politik. Akuntansi forensik juga dikenal sebagai audit forensik yang merupakan penugasan khusus untuk mengatasi kecenderungan praktik fraud dalam ranah akuntansi. Dalam artikel ini audit forensik menguraikan beberapa indikator penyebab terjadinya kecurangan (fraud) dalam korupsi politik yaitu faktor; tekanan (pressure), kesempatan (opportunity), rasionalisasi (rasionalization), kompetensi (competency), dan arogansi (arogance). Dalam konteks ini, tahapan akuntansi forensik meliputi; audit investigasi, audit forensik dan ligitasi yang bertujuan mengatasi kasus korupsi politik. Penelitian ini menggunakan metode kualitatif dengan pendekatan studi pustaka serta mengumpulkan data-data dan dokumen yang terkait. Artikel ini berpendapat bahwa akuntansi forensik sangat efektif mendeteksi dan berperan dalam proses pemberantasan praktik korupsi politik. Artikel ini juga berpendapat bahwa akuntansi forensik bisa mendorong literasi anti fraud dalam partai politik melalui penerapan sistem whistleblowing.
Artikel ini menjelaskan peran akuntansi
forensik dalam pemberantasan korupsi
politik. Akuntansi forensik juga dikenal
sebagai audit forensik yang merupakan
penugasan khusus untuk mengatasi
kecenderungan praktik fraud dalam ranah
akuntansi. Dalam artikel ini audit forensik
menguraikan beberapa indikator penyebab
terjadinya kecurangan (fraud) dalam korupsi
politik yaitu faktor; tekanan (pressure), kesempatan (opportunity), rasionalisasi
(rasionalization), kompetensi (competency), dan arogansi (arogance). Dalam konteks ini, tahapan akuntansi forensik meliputi; audit
investigasi, audit forensik dan ligitasi yang
bertujuan mengatasi kasus korupsi politik. Penelitian ini menggunakan metode
kualitatif dengan pendekatan studi pustaka
serta mengumpulkan data-data dan
dokumen yang terkait. Artikel ini
berpendapat bahwa akuntansi forensik
sangat efektif mendeteksi dan berperan
dalam proses pemberantasan praktik korupsi
politik. Artikel ini juga berpendapat bahwa
akuntansi forensik bisa mendorong literasi
anti fraud dalam partai politik melalui
penerapan sistem whistleblowing.
ResearchGate has not been able to resolve any references for this publication.